Dollar rents are illegal, Acting Rent Commissioner declares
Ghana’s Acting Rent Commissioner has turned his sights on another front in the battle to bring order to the country’s chaotic rental market — the increasingly brazen practice of advertising and charging rent in US dollars rather than the national currency.
Frederick Opoku, speaking again on the Joy FM Super Morning Show, did not mince his words, describing the trend as outright unlawful and a symptom of the broader culture of impunity he believes has taken root in Ghana’s property sector.
“Do we spend dollars in Ghana? No. Therefore, that’s where the lawlessness comes,” he said, framing the issue not merely as a regulatory irritant but as a direct affront to the country’s financial laws and economic sovereignty.
What particularly troubled him, he explained, was the sheer boldness with which some landlords and property owners flaunt dollar-denominated pricing in public — including on television — without any apparent fear of consequences.
“We are bold to come to television and say one million dollars, three million dollars and go with impunity,” he lamented, painting a picture of a market where the rule of law has all but ceased to function as a deterrent.
Mr Opoku disclosed that the Rent Control Department is now in active dialogue with the Bank of Ghana’s Financial Markets Department to find a coordinated response to the creeping dollarisation of the property sector.
He acknowledged that the Bank of Ghana has previously issued directives prohibiting the pricing of goods and services in foreign currencies without authorisation, but conceded that enforcement of those directives has fallen far short of what is needed.
The dollarisation of rental properties is not a new concern — it has surfaced repeatedly as a flashpoint during periods of cedi weakness and economic turbulence, with regulators and policymakers issuing warnings that have rarely been backed by meaningful sanctions.
For many tenants already struggling under the weight of rising costs, the demand for dollar-denominated rents has placed decent housing even further out of reach.
Mr Opoku’s latest comments suggest that authorities may finally be moving toward a more coordinated and enforceable response — though whether that resolve will translate into action on the ground remains to be seen.
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