The government has displayed its emphasis on redefining the public housing sector. While the move is not surprising given the government’s focus on the Big Four Agenda, Treasury’s CS, Henry Rotich shared specific commitments towards the housing agenda.
For the purposes of social housing and construction, Sh.10.5 billion was allocated for the purpose. The construction of these houses will comprise units for the Police and officers from Kenya Prisons.
The government also set aside Sh 2.3 billion for public servants and Sh 5 billion for the National Housing development fund for its employees.
The government plans to inject Sh.1 billion into the Kenya Mortgage Re-finance Company as a means of offering a platform for affordable mortgage facilities.
The company will also access Sh 35 billion credit lines from the World Bank and the African Development Bank. It also received Sh 1.2 billion from other stakeholders such as banks and Saccos.
Some Sh 400 million is expected from development financial institutions in the form of equity injection