Ghana: Press focuses on plans to digitise rent control, drop in consumer price index

The plan by the government to digitise rent control operations and the drop in consumer price index are the leading…

The plan by the government to digitise rent control operations and the drop in consumer price index are the leading stories in the Ghanaian press on Thursday.The Times reports that the government is working on a number of initiatives to address the challenges affecting the provision of affordable housing and resolving matters involving rent.

The report said that Vice President Bawumia said that these measures included the design of a policy framework to address rental issues, and the submission to cabinet and subsequently Parliament, for approval, a new Rent Control bill to replace the existing, moribund Rent Act of Ghana (Act 220), which was passed in 1963.

The report added that the Vice President made these disclosures when he paid an unannounced visit to the offices of the Rent Control Department in Accra yesterday.

Accompanied by the Minister for Works and Housing, Mr. Samuel Atta Akyea and his deputy, Mrs. Barbara Asher Ayisi, the Vice President expressed worry about the lack of housing for low income earners, and disclosed that, among others, “the government was working to address the uncertainties in the housing market, which has led to landlords demanding two to three years rent advance, well beyond the means of many, especially the youth who have just completed schooling and looking to enter the job market.”

The newspaper said that the Bank of Ghana (BoG) has raised alarm over the increasing rate of mobile money fraud in financial institutions, particularly, banks in the country.

According to the Central Bank, swindlers have targeted banks, using dubious ways, including pretending to be staff of telecommunication companies (Telcos) to execute their fraudulent agenda.

The BoG has disclosed that, its monthly and fraud incident report submitted by financial institutions over the last quarter has showed a persistent increase in the number of institutions falling victims to mobile money fraud in the country.

Explaining how the crime is committed, the Head of Financial Stability Department at the BoG, Dr. Joseph France, said that, typically, bank staff (tellers in most cases) receive a call from someone holding him or herself as an employee of one of the Telco’s or the caller claims to be calling from the institutions head office.

The Times also reported that Ghana’s Consumer Price Index (CPI) for June this year has slightly dropped to 11. 2 percent from 11.3 percent recorded last month, the Ghana Statistical Service (GSS) has said.

According to the GSS, the drop was 0.1 percentage points lower than that of May, while the monthly inflation rate between May and June is one percent.

CPI measures changes in the price of a fixed basket of goods and services purchased by households

Speaking at a press conference in Accra yesterday, the Government Statistician, Samuel Kobina Annim said “even though year-on-year inflation for June was still higher compared to pre-Covid-19 inflation, month-on-month inflation and month-on-month food inflation are lower than previous two months. This indicates that the prices did continue to rise, but not as much as the previous two months”

Mr. Annim said food inflation was 13.8 percent as compared to 15.1 percent recorded last month while inflation for non-food for June was pegged at 9.2 percent.