300 members of Harambee Sacco have received their title deeds in support of the Government’s agenda to establish 500,000 decent low cost houses across the country.
The beneficiaries will now subdivide the 40 acre parcel of land in Rongai constituency in Nakuru County.
Harambee Sacco Chief Executive Officer Dr.George Ochiri says beneficiaries of the Harambee Flamingo scheme will put up 303 housing units on their 50 by 100 plots in line with the plan by the state department for Housing.
He says this will enable residents of Nakuru, the fastest growing urban area in East and Central Africa-access affordable and decent houses.
According to Nakuru County Government, two-thirds of Nakuru town population is categorized as middle class and grapples with a deficit of 21,000 units.
The County directorate of Housing called for more partnerships in the housing sector to build more, modern but low cost units for the growing population.
Dr. Ochiri says the scheme pioneered by a 73,000 membership base from the office of the President, Government ministries, Defense forces and the National Youth service will address the shortfall in the County.
The CEO says members are eligible for cheaper development loans and urged them to borrow more and help power the government`s housing agenda in the country`s Capital Nairobi and North Rift`s commercial hub Eldoret in a housing scheme to be rolled out by January this year.
Ochiri says as part of the growth strategy, the sacco intends to draw membership from parastatals, the corporate sphere and small business people in an effort to expand its revenue base to facilitate the public private partnership in the bid for 500,000 housing units by 2022.
Harambee Sacco chairman Michael Malonza described the scheme as a milestone saying it will enable a considerable number of low income members acquire prime land and own decent low cost homes.