The ruling New Patriotic Party (NPP) have pledged to absorb the rent fees of Ghanaian youth in their next term in office.
Nana Akomea, member of the NPP communication team said in a press conference that government will absorb the full rent advance for the youth and then make them pay it back on a monthly basis.
He said the next NPP government would implement the move through the National Rental Assistance Scheme – a new, novel, and a revolutionary scheme that would among other things provide low-interest loans to eligible Ghanaian youth solely to enable them to pay for rental accommodation.
The rent advances, Akomea explained would be paid directly into the bank accounts of beneficiary landlords and it would target Ghanaian youth in both formal and informal sectors, with identifiable or regular income.
Beyond the payment of rent advances, Akomea stated that the government would set up seed capital of ¢100 million, which would also serve the purpose of leverage to attract additional investment from the private sector.
“Government will implement the necessary regulatory and operational bodies to anchor the policy,” he stated.
He added, “Indeed as we speak, a new Rent Control Act has been drafted for review by Cabinet in this direction. So basically, when this National Rental Assistance comes into being in the next NPP government, the big problem of two to three years Advance rent would greatly reduce, if not ended.”
Source: GhanaFeed.com
