The National Housing Corporation (NHC) advanced a total of 46 loans amounting to KSh. 105.2 million were to individuals in 16 counties in the 2017/18 financial year. This is according to the latest economic survey by the Kenya National Bureau of Statistics.
The data shows that individuals in Murang’a and Machakos Counties received the highest number of loans from NHC, each getting eight loans while nearly nine out of the 25 counties surveyed received no loans from the body whose slogan is ‘Housing the Nation’.
The primary mandate of NHC is to play a principal role in the implementation of the Government’s Housing Policies and Programmes.
The survey also shows that approved government expenditure on housing increased four-fold or 74 per cent since 2014; from KSh. 7.39 billion to KSh. 28.96 billion in the 2018/2019 financial year according to data from the State Department for Housing and Urban Development.
However, actual expenditure stood at about 87 per cent on average over the previous two years and grew from KSh. 15.2 billion in 2016/17 to KSh. 16.1 billion in 2017/18.
In 2017/18, the actual expenditure as a percentage of budget estimate was 87.6 per cent. The approved expenditure on housing in 2018/19 was increased to KSh 28,956.2 million to finance housing flagship projects.