Dear Ghanaian youth, before you decide who to vote for in 2020 elections, read this about President Akufo Addos promise on Rent Advance.
Background: There is a market failing between what the tenant wants, and what the landlord wants, and the government will address this failure by setting up a National Rent Assistance Scheme (NRAS). The NRAS will be a partnership with the private sector.
Take Note Ghana :
The NRAS will provide low-interest loans to eligible Ghanaians to enable them pay rent in advance. These loans will be repaid on a monthly basis to match the tenure of the rent, and will be insured to ensure sustainability.
The NRAS will target individuals (both in the formal and informal sectors) with identifiable and regular income. The rent advance loans will be paid directly into the bank accounts of landlords, who would have to register with the NRAS.
We will implement the necessary regulatory, institutional, and
operational reforms of the Rent Control Department, including the digitization of their operations, to enhance delivery, and make it better able to serve the changing needs of market players, including landlords and tenants.
The Mahama led NDC government did nothing to address the growing gap between rent affordability, the availability of quality homes, and access for all Ghanaians. Costs went up, quality went down, and you were left to pay more for less. The NDC failed to shelter Ghanaian
TARGETED MESSAGES: WOMEN
Economically empowering women must include basic needs such as access to affordable, reliable shelter. This is an important step toward equal economic opportunity and realizing the full potential of women.
TARGETED MESSAGES: YOUTH
The NRAS will provide young men and women with access to affordable, quality homes without having to worry about burdensome income qualifications or advanced rent payment requirements that they can’t yet afford.