The government of Ghana in partnership with the private sector, will commence the establishment of a National Rental Assistance Scheme (NRAS), with a seed of GH¢100 million.
The scheme will crowd-in additional investment from the private sector, to provide low-interest loans to eligible Ghanaians to enable them to pay rent advance,” the caretaker Minister for Finance, Osei Kyei Mensah-Bonsu has said.
Dispensing the 2021 budget statement and economic policy of the government in Parliament on Friday, March 12, 2021, Osei Kyei Mensah-Bonsu said the scheme will also sustain additional investment from the private sector.
According to him, the leasing policy would cover medical equipment, vehicles, photocopiers, printers, and scanners, among others as part of measures to efficiently manage the capital expenditure budget.
Vice President Dr. Mahamudu Bawumia, earlier revealed that the government is working on some enterprises to address provocations affecting the provisions of affordable housing and resolving matters involving rent.
These measures include the design of a policy framework to address rental issues, and the submission to Cabinet and subsequently Parliament, for approval, a new Rent Control bill to replace the existing, moribund Rent Act of Ghana (Act 220), which was passed in 1963.
Source: Naa Lamiley Lamptey