Home NEWS Local News Big boost to Housing Programme as allocation swells by Ksh. 57 Billion

Big boost to Housing Programme as allocation swells by Ksh. 57 Billion

Kenya Kwanza administration las listed Housing as one of the five core areas of BETA with the highest impact on the economy

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President William Ruto listed Housing as one of the five strategic priority areas to be implemented by his administration under the Bottom-Up Economic Transformation Agenda.

This commitment was confirmed yet again on Thursday when the National Treasury Cabinet Secretary Prof. Njuguna Ndung’u read the budget statement in parliament.

To support the initiative, the CS proposed an allocation of Ksh 92.1 billion. This represents an increase of Ksh. 56.9 billion given that last year’s allocation to the programme was Ksh. 35.2 billion.

A huge chunk of this allocation goes towards the construction of Affordable Housing Units with Ksh 32.5 billion allocated. Last year Treasury appropriated Ksh 3.2 billion for the Construction of Affordable Housing Units representing an increase of Ksh.29.3 billion to roll out the initiative.

“The Government’s commitment is to turn the housing challenge into an economic opportunity to create quality jobs for the youth directly in the construction sector and indirectly through the production of building products,” said Prof. Ndung’u

Construction of Social Housing Units got Ksh 3.3 billion last year. This year, however, the allocation was raised to Ksh 15 billion. Another Ksh 14.7 billion has been proposed for social and physical infrastructure.

Allocations to other areas in the sector including the Kenya Informal Settlement Improvement Project – Phase II; construction of markets; the National Slum Upgrading Programme; the construction of Housing Units for the National Police and Kenya Prison; construction of footbridges; were either maintained or slightly increased when compared to allocations made last year.

According to President Ruto, implementation of the Affordable Housing Programme will transform the lives of Kenyans at the bottom of the pyramid by creating jobs, providing decent housing, and reducing agricultural land fragmentation.

This, according to the head of state, will be achieved through among other measures facilitating delivery of 200,000 houses per annum and enabling low-cost housing mortgages.

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