The Ministry of Works and Housing is urging the general public to disregard information circulating in the media to downgrade the government’s National Rental Assistance Scheme (NRAS).
The scheme which was launched on January 31, 2023, is a platform to offer loans to individuals who need help in settling their rent issues.
The general public since the launch of the NRAS has questioned the feasibility of the scheme and who is in charge of awarding the loans.
In a statement released by the Works and Housing Ministry to address the issues, it stated that the NRAS is a public-private partnership where Rent Masters Ghana Ltd, a fully owned Ghanaian company will assist in making sure the programme is effective.
The statement further indicated that government will assist eligible Ghanaians to pay their rent in advance through an affordable and convenient arrangement.
Launching the Scheme in Accra, the Vice President, H.E Alhaji Dr Mahamudu Bawumia indicated that the introduction of the Scheme, as enshrined in the government’s 2020 manifesto, is part of measures to reduce the need for huge rent advance payment requests by landlords and ultimately enhance the creditworthiness of potential tenants in their search for residential rental accommodation.
The Vice-President further explained the Scheme will target individuals, both in the formal and informal sectors, with identifiable and regular income, adding that the rent advance loans will be paid directly into the bank accounts of landlords.
Below is the full statement
