The State Department of Housing has said that 17,000 Kenyans have begun making voluntary contributions to the State’s affordable housing plan
A court order sought by a total of 11 bodies opposed to mandatory deduction earlier this year had barred the government from deducting the stipulated 1.5% of Kenyans earnings to be deposited in the housing fund.
Undeterred, the housing department had turned to other funding alternatives including capital markets and public-private partnerships
“There was a lot of noise made on how the deductions were to be made operational in spite of following global best practices. While we still believe it’s the right way to go, we are looking at alternative means of achieving the same ends,” PS Hinga added.
Several organizations and private actors have already thrown their weight behind the government initiative including the World Bank, Africa Development Bank and Shelter Afrique among other private investors.