The attention of the Ministry of Works and Housing has been drawn to publications on social and traditional media platforms, questioning the feasibility of the National Rental Assistance Scheme (NRAS) which was launched by His Excellency, the Vice President Alhaji Dr. Mahamudu Bawumia on 31st January, 2023.
According to a statement by the Ministry, the National Rental Assistance Scheme is a public-private partnership.
It continued that government has contracted Rent Masters Ghana Ltd., a fully owned Ghanaian company to assist in executing the programme.
“The decision to have a public-private partnership was informed by the following considerations:
“To ensure due process and value for money for the sustainability of the Scheme, Ensure accountability and protect the public purse, exploit the experience and working business model of Rent Masters Ghana Ltd. to minimize risk, and promote private sector management in providing solutions to housing challenges,” the statement outlined.
The general public has been asked to disregard all information intended to disparage this good initiative.
Read full statement below
Govt Launches National Rental Assistance Scheme
The Government of Ghana has duly launched the National Rental Assistance Scheme as part of measures to provide decent accommodation for Ghanaians.
Ghanaians above the age of 18 with a valid national ID card and verifiable employment with an income, qualify for a rent loan in five to ten working days under the scheme.
Total rent is paid to the prospective landlord of the applicant and the applicant in turn makes a monthly payment to the National Rental Assistance Scheme.
Applicants are expected to be evicted from the house or room if they default on the monthly payment arrangement.
The Scheme is expected to be rolled out across the country but will be piloted in five regions namely; Greater Accra, Ashanti, Western, Eastern, and Bono East Regions.
Speaking at the launch in Accra on Tuesday, January 31, vice president Mahamudu Bawumia said the five regions were “selected for the pilot because they are where there is pressure on rent in the country.”
“In partnership with the private sector, the scheme will provide low-interest loans for eligible Ghanaians to enable them to pay rent in advance. These loans will be repaid on a monthly basis to match the tenor of the rent and will be supported by a bank guarantee to ensure sustainability,” Dr Bawumia explained.