Affordable Housing Program Attracts 17,000 Kenyans so Far
Affordable Housing Program Attracts 17,000 Kenyans so Far
The Affordable Housing Program has attracted a total of 17,000 Kenyans so far, who have already signed up for the voluntary deductions to the State’s affordable housing plan.
According to data from the State Department of Housing, over 275,000 more Kenyans have signed up as off takers of the under-construction homes.
Initially, the government had planned to enforce a mandatory deduction of 1.5% of employee salaries as contribution to the housing fund. However, civil groups including the Federation of Kenyan Employers (FKE), the Central Organization of Trade Unions (COTU) and the Consumer Federation of Kenya (COFEK) challenged the plan in court rendering its implementstion impossible.
Therefore, the Housing department decided on Voluntary deductions after one willingly signs up for a house.
As reported by Citizen, the Housing Ministry will thus implement the project via public-private partnerships (PPP). This will happen through leveraging on surpluses in the capital markets.
Other institutions such as Shelter Afrique and the World Bank have already made deals with the State to activate the Affordable Housing Program.
