Dr. Alhaji Mahamudu Bawumia, Vice President of the republic launched the innovative National Rental Assistance Scheme (NRAS) which was NPP’s campaign promise in 2020 on Tuesday.
The NRAS is designed to make rental accommodation more accessible, affordable, and convenient by taking away the unfair burden faced by lower-income households and the youth across the country of multi-year rent advance payments demanded by landlords.
The Scheme will target individuals in the formal and informal sectors with identifiable and regular income.
The rent advance loans will be paid directly into landlords’ bank accounts, who would also have to register with the Scheme.
The initial rollout, with a seed funding of GHc30m, will take place in the Greater Accra, Ashanti, Western, Eastern, Bono East, and Northern Regions, where data from the Ghana Statistical Service shows renters have the greatest challenge with rental accommodation.
Source:Mybrytfmonline.com
