Ghana is set to establish the National Rental Assistance Scheme (NRAS) to help alleviate the strain of large rent payments.
The scheme will be unveiled on Tuesday, January 31, 2023 in Accra by Vice President, Dr Mahamudu Bawumia.
The initiative, as stated by the Ministry of Works and Housing, would increase the affordability of housing rents, among other things.
“As part of efforts to increase access to safe, secure and affordable rental housing for lower-income households and the youth across the country, the Government of Ghana has developed a Scheme known as the National Rental Assistance Scheme (NRAS) to, among other things, facilitate accessibility and affordability of rental housing by riddling Ghanaians particularly the low-to-middle income households and the youth from the unfair burden of multiyear rent advance payments.
“The implementation of the Scheme is in fulfillment of the manifesto promise by the Government of H.E Nana Addo Dankwa Akufo-Addo following the difficulties faced by Ghanaians especially the youth in securing decent residential renting especially in urban cities.
“This challenge, which has been on an increasing trend for the past two decades, is as a result of the high demand for affordable rental properties, compounded by an uncompromising demand of landlords to collect a year or two years of rent advance from potential tenants.
“The Scheme will be launched by H.E the Vice President, Alhaji Dr Mahamudu Bawumia on Tuesday, 31st January, 2023 at the Accra International Conference Centre (AICC) at 9:30am,” the statement read.
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