● Renting:
To address the short-to-medium term market failures in the renter-segment of the housing
market, the next NPP Government will establish a National Rental Assistance Scheme
(NRAS). In partnership with the private sector, the Scheme will provide low-interest loans
to eligible Ghanaians to enable them pay rent advance. These loans will be repaid on a
monthly basis to match the tenor of the rent, and will be insured to ensure sustainability.
Government will seed the Scheme with GH¢100 million which will be leveraged to crowd-
in additional investment from the private sector.
The Scheme 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 Scheme.
As part of our interventions, we will implement the necessary regulatory, institutional, and
operational reforms of the Rent Control Department, including the digitisation of their
operations, to enhance delivery, and make it better able to serve the changing needs of
market players, including landlords and tenants. A new Rent Control Act has been drafted
for review by Cabinet in this direction.
2020 NPP MANIFESTO
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