KENYA: PRESIDENT’S PROGRAM FOR AFFORDABLE HOUSING.

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  • The president of Kenya is drafting a program to develop affordable houses.
  • He plans to deliver over 200,000 housing units daily.
  • He wants to create space for personal developers to partner with the state.

 

In line with developing the citizen’s standard of living, the President of Kenya has said that his administration is drafting a program that will rope the private sector and county governments to develop affordable houses. This program will detail how finances will be made available for Kenyans to access mortgages.

 

The president detailed his plans to deliver 200,000 housing units annually that heavily rely on counties’ backing and how attractive the private sector will see the business environment.

 

He mentioned that he is engaging the parliament so that it creates a mandatory housing fund that will assist in building resources for long-term lending to developers and homeowners through mortgages. Half of the 200,000 units will be a mix of social and affordable housing.

 

The President has asked governors to release land for the construction of units, he added that the government would use its financial muscle to add amenities like water, sewage, and roads. He stated, “we will start with 5,000 units in every county going forward.”

 

However, he pointed out how this program cannot be achieved by just the government alone, he added that his administration will ensure private developers get a market for the constructed units when they partner with the state. He also said that the government will support these private developers through Boma Yangu to ensure that they have buyers of those units and they are going to arrange for the mortgage. The president is keen on most of his citizens owning a house.

 

In this housing plan, he also wants to ensure that housing does not compete with agricultural land; he wants to ensure that the land meant for food production is not engaged for human settlement. The whole program is to make use of the resources available and develop those resources in a manner that benefits all citizens. According to him, He had meetings with pension institutions so that they can contribute to the financing for homeowners.

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