Ghana's Acting Rent Commissioner Frederick Opoku has strongly criticised landlords for charging rent in US dollars. Mr Opoku stated this practice is unlawful because tenants earn in Ghana cedis (GHS).
This trend forces tenants to pay in a foreign currency, despite their incomes being in local currency. He identified weak enforcement as the primary reason for this increasing dependence on the US dollar within the rental housing market. This poses significant challenges for many Ghanaians already facing high living costs.
This development adds to concerns about the stability of the Ghana cedi and the affordability of housing. The Rent Commissioner’s remarks highlight a broader issue of currency confidence and economic pressure on citizens. Such practices can lead to inflation and push up the cost of living.
“Do we spend dollars in Ghana? No. Therefore, that’s where the lawlessness comes,” Mr Opoku said in an interview. He stated that Ghana’s legal tender remains the cedi for all domestic transactions. Using dollars for rent payments without proper authorisation goes against this law.
The practice disproportionately affects ordinary citizens whose salaries are paid in cedis. Many struggle with rising utility bills and overall accommodation costs. Landlords often advertise properties in dollars, especially in urban areas and upscale neighborhoods. This makes housing increasingly out of reach for average Ghanaians.
The current situation mirrors past concerns about dollarisation in other sectors of the Ghanaian economy. If left unchecked, this trend could further weaken public trust in the cedi. It could also create a two-tiered economy where essential services are de facto priced in foreign currency.
Mr Opoku warned that charging rent in foreign currency erodes confidence in the Ghana cedi. It also adds to the financial burden on tenants. This practice has sparked widespread online debate, reflecting public anxiety over economic hardships.
The Rent Control Department must strengthen its enforcement mechanisms to address this issue. Policy makers need to consider measures to protect tenants and encourage the use of the cedi. This includes public awareness campaigns about tenants' rights and legal tender laws. The stability of the cedi and fair housing practices are critical for Ghana's economic health. Authorities will monitor whether this intervention leads to changes in rental market practices.