• About Us
  • Contact Us
  • Photo Gallery
  • Privacy Policy
  • Terms of Use
  • Citi TV
Friday, March 31, 2023
Citinewsroom - Comprehensive News in Ghana
  • Home
  • News
  • Business
  • Sports
  • Showbiz
  • Coronavirus
  • Infographics
  • Livestream
  • Videos
No Result
View All Result
Citinewsroom - Comprehensive News in Ghana
  • Home
  • News
  • Business
  • Sports
  • Showbiz
  • Coronavirus
  • Infographics
  • Livestream
  • Videos
No Result
View All Result
Citinewsroom - Comprehensive News in Ghana
No Result
View All Result

National Rental Assistance Scheme: Bawumia rules out political interference [Video]

Godwin Akweiteh AlloteybyGodwin Akweiteh Allotey
February 1, 2023
Reading Time: 3 mins read
ShareShareShareShare

Vice President Dr. Mahamudu Bawumia has assured that the newly launched National Rental Assistance Scheme (NRAS) will be run devoid of any political interference.

Dr. Bawumia launched the scheme in Accra on Tuesday to meet the rent demands in Ghana.

The operations of the scheme have been outsourced to a private sector entity –Rent Masters Ghana Limited.

The intervention is expected to provide low-interest loans for qualified applicants to enable them to pay their rent in advance.

It is currently estimated that there exists a deficit of about 5 million rooms in Ghana as of December 2022; assuming each room is shared by 2 occupants. And this deficit is expected to get worse as the population grows and rural-urban migration continues.

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.

There are fears the newly launched scheme may collapse if it only benefits party apparatchiks but speaking at the launch of the scheme Dr. Bawumia insisted that only qualified persons will benefit from the initiative.

“Government is working in partnership with the private sector. The scheme will provide low-interest loans to eligible Ghanaians to enable them pay rent in advance. These loans will be repaid monthly to match the tenure of the rent and be supported by a bank guarantee to ensure sustainability. Because the management of the scheme will be outsourced to the private sector, there won’t be any political interference because if they give a loan to someone who is not eligible they will lose money.”

“So if someone comes and says I am from this party or that party so give me a loan, although I don’t qualify, the private firm will essentially be hurting itself if that person is unable to pay back the loan. There is an inbuilt mechanism to stop political interference in the operationalisation of this scheme, so it is available for every Ghanaian,” he said.

Per the scheme, government will pay the full rent directly to landlords on behalf of eligible Ghanaians –in formal and informal sectors–while the tenants reimburse government through monthly payments.

The Vice President further explained that the monthly payments will go back into the pool for the payment of rent loans for other people.

“The amount will be paid directly into the landlord’s account who will also have to sign up on the scheme.

New rent bill

Dr. Bawumia also announced that the government has tabled a new Rent Bill before Parliament to replace the existing one which he said has outlived its usefulness.

“Government acting through the Ministry of Works and Housing has submitted to Parliament for consideration and passage, a Rent Bill to replace the existing Rent Act of 1963, Act 220. The current Act was passed by Parliament 59 years ago, and therefore its relevance has been outlived by the current population growth, urbanisation, availability and housing trends.”

He also added that efforts are in place to digitalise the Rent Control Department to among other things improve the country’s rent system as well as boost revenue collection.

Follow @AlloteyGodwin

 

 

ShareTweetSendSend
Previous Post

Malawi president reduces size of cabinet in reshuffle

Next Post

Rent assistance beneficiaries will payback with 12% interest

Related Posts

General

Debt owed ECG was inherited – Electrochem

March 31, 2023
Education

Gov’t ignored redflags raised against free SHS policy – Angel Carbonu

March 31, 2023

ECG releases nationwide ‘Dumsor’ timetable

March 31, 2023
File photo
Top Stories

Central Gonja: Chief killed over land dispute

March 31, 2023
Top Stories

Report on anti-gay bill laid before Parliament

March 30, 2023
Top Stories

MPs’ comments on our new residential policy full of inaccuracies – UG

March 30, 2023
Next Post

Rent assistance beneficiaries will payback with 12% interest

TOP STORIES

Gov’t ignored redflags raised against free SHS policy – Angel Carbonu

March 31, 2023

We’ll vote against govt’s new tax bills – Mahama Ayariga

March 31, 2023

ECG releases nationwide ‘Dumsor’ timetable

March 31, 2023
Load More
ADVERTISEMENT
Citinewsroom – Comprehensive News in Ghana

CitiNewsroom.com is Ghana's leading news website that delivers high quality innovative, alternative news that challenges the status quo.

Archives

Download App

Download

Download

  • About Us
  • Contact Us
  • Photo Gallery
  • Privacy Policy
  • Terms of Use
  • Citi TV

© 2021 All Rights Reserved Citi Newsroom.

No Result
View All Result
  • Home
  • News
  • Business
  • Sports
  • Showbiz
  • Coronavirus
  • Infographics
  • Livestream
  • Videos

© 2021 All Rights Reserved Citi Newsroom.

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
Cookie SettingsAccept All
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT