President William Ruto has signed the Affordable Housing Bill into law, marking a significant milestone in Kenya’s efforts to address housing challenges. The ceremony, held at State House Nairobi on Tuesday, March 19, signifies the commencement of the housing levy implementation, wherein both employers and employees will contribute 1.5 percent towards affordable housing.
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In his address during the ceremony, President Ruto expressed gratitude to the courts for their role in scrutinizing the bill and ensuring inclusivity in its provisions. He acknowledged that some individuals had initially been left out but would now be included in contributing to the housing fund. Ruto emphasized the importance of public participation in legislative processes, underscoring its significance in upholding democratic principles.
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Furthermore, the President pledged the government’s commitment to reviewing the Senate report, which raised concerns about the 10 percent mandatory deposit requirement. Many Kenyans had voiced their grievances regarding the high deposit amount, prompting the government to consider alternative measures to address affordability concerns.
The enactment of the Affordable Housing Bill represents a significant step towards achieving the government’s housing agenda and improving living conditions for Kenyans. By facilitating the implementation of the housing levy, the government aims to mobilize resources for the construction of affordable housing units across the country, thereby addressing the housing deficit and promoting sustainable urban development.
As the housing levy implementation begins, stakeholders are encouraged to actively participate in the process and provide feedback to ensure transparency and accountability in the utilization of funds. President Ruto reiterated the government’s commitment to prioritizing affordable housing as part of its broader agenda to enhance socio-economic development and improve the quality of life for all citizens.
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