The Ministry of Works and Housing has called the bluff of persons casting doubt over its ability to effectively carry out the recently launched National Rental Assistance Scheme.
The government on Tuesday, January 31, 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 10 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.
Observers have questioned the practicality and whether or not the move is the panacea to mitigating the accommodation challenges in the country.
But in a statement, the sector Ministry maintained that the initiative is very feasible describing such assertions as pure misinformation.
“We urge the general public to disregard all information intended to disparage this good initiative and seek your cooperation in making the Scheme beneficial to all”, the Ministry said.
It further provided reasons as follows:
1. The National Rental Assistance Scheme is a public-private partnership.
2. Government has contracted Rent Masters Ghana Ltd, a fully owned Ghanaian company to assist in executing the programme.
3. Rent Masters Ghana Ltd. has been in this business since 2018 with an effective business model.
4. Under this partnership, Government will assist eligible Ghanaians to pay their rent advance through affordable and convenient arrangements.
5. 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 pub. purse.
• Exploit the experience and working business model of Rent Masters Ghana Ltd to minimize risk.
• Promote private sector engagement in providing solutions to housing challenges.
6. It is important to note that, while the NRAS website is open for the public to access, work is still ongoing to update its features and contents to reflect the mandate and functions of the partners.
It is currently estimated that there exists a deficit of about five million rooms in Ghana as of December 2022; assuming each room is shared by two occupants.
And this deficit is expected to get worse as the population grows and rural-urban migration continues.
Vice President Dr. Mahamudu Bawumia has assured that the newly launched National Rental Assistance Scheme (NRAS) will be run devoid of any political interference.