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No more rent advance for the youth -Nana Akomea

October 27, 2020 By 0 Comments

A Member of the Communication Team for the New Patriotic Party (NPP), Nana Akomea, has indicated that the rent advance issues faced by the youth of the country will be over soon should they vote the New Patriotic Party (NPP) into power again.

Mr Akomea said that the next NPP government will set up a National Rental Assistance Scheme to provide low interest loans to eligible Ghanaian youth solely, to enable them pay for rental accommodation.

He said the government will pay two to three years of the  advance usually charged by landlords on behalf of its beneficiaries, who will be registered onto the scheme and make the beneficiaries pay such monies in monthly installments.

He observed that this will relieve the youth from this rent advance issue, and enable them establish themselves well.

“The next NPP government will, very quickly, get up the National Rental Assistance Scheme.  The elements of this new, novel and revolutionary scheme will be: To provide low interest loans to eligible Ghanaian youth solely to enable you pay for rental accommodation. Beneficiary youth will repay the loans on a monthly basis.

“Government will, in effect, pay the rent advance for you, and you pay the rent monthly to the scheme. In effect the NPP government will eliminate the problem of rent advance in the next four years then.”

The former Communications Director was speaking at a press conference in Accra yesterday. The conference was to present great plans the NPP has for the youth over the next four years, and to seek their active support for the government of President Akufo-Addo, in order to secure these great plans and benefits for themselves.

Throwing more light on the housing situation in Ghana, Mr Akomea, who serves as the Managing Director of Intercity STC, said that rental accommodation is one intractable problem that faces young people over the years.

He said young people between ages of 21 to 35, who have newly finished tertiary education, or who intend to leave home to set themselves up, or planning to set up in marriage, face rent issues, compounded by the phenomenon of rent advance.

He indicated that with the new scheme, the big problem of two to three years advance rent would greatly reduce, if not ended.

The rent advances would be paid directly into the bank accounts of the beneficiary landlords.

Mr Akomea said the Ghanaian youth in the formal and informal sectors, with identifiable or regular incomes, will all stand the chance of benefitting from the scheme.

He said the government will set up seed capital of GH¢100 million, which would also serve the purpose of leverage to attract additional investment from the private sector.

“In the longer term, the next NPP government will embark vigorously on providing low income and middle income housing for the Ghanaian public and Ghanaian youth for rental and for ownership.

“Government will implement the necessary regulatory and operational to anchor the policy.  Indeed, as we speak, a new Rent Control Act has been drafted for review by Cabinet in this direction.”

He also said the party will introduce more youth-centered interventions in its next government, and admonished Ghanaian youth to vote to retain the party in power.

He said one major pursuit will be the One-District-One-Factory initiative. He said many countries have expanded and established their economies through industrialisation, and Ghana can do same.

He said the 1D1F had already created jobs for the youth, and would create more if the NPP is retained in power.

He also indicated that the government will continue with its digitisation initiative to ensure that the youth of Ghana can match up to their counterparts in other parts of the country, in terms of technology.

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