30,000 Kenyans already contributing to Housing Fund- CS Moses Kuria

Sunday, May 28th, 2023 11:42 | By
30,000 Kenyans already contributing to Housing Fund- CS Moses Kuria
Trade CS Moses Kuria. PHOTO/Courtesy

Trade Cabinet Secretary Moses Kuria now claims at least 30,000 Kenyans are already enrolled on the Kenya Kwanza administration's affordable housing scheme.

In a tweet on Saturday, May 27, 2023, the CS said the members have been contributing their income to secure affordable houses and have raised Ksh1.8 billion already.

"Did you know that 30,000 Kenyans have been contributing to the Housing Fund already? They have raised Ksh1.8 Billion already. With gearing I can easily get investors to multiply this to Ksg 45 Billion of houses (25X). That's 18,000 houses at a cost of Ksh 2.5 Million," Kuria tweeted.

The CS's remarks come against the backdrop of a heated debate about the 3% housing levy being pushed by President William Ruto's administration.

The Housing Fund levy is part of the proposed Finance Bill 2023 which is currently in the public participation stage.

A section of Kenyans led by the opposition has opposed the proposed law that seeks to compel employers and their employees to contribute 3% of their wages to the housing scheme.

Defending the Bill, Kuria reiterated President Ruto's position that the fund would help Kenyans secure affordable and decent homes besides creating employment opportunities for jobless youths.

"Each house creates 10 jobs. That's 180,000 jobs right there just from a pool of 30,000 voluntary contributors and a gearing factor of 25X. Now we have 3 Million salaried workers in Kenya. By same rule that's 18 Million jobs," he said.

At the same time, Kuria dismissed the opposition's threats to pursue self-determination over the current standoff.

"Secede if you want. We must change this nation," Kuria stated.

Azimio la Umoja - One Kenya coalition leader Raila on Friday said the proposed 3 per cent housing levy is unsustainable and should be shelved.

Speaking during a prayer meeting at Wiper party leader Kalonzo Musyoka's farm in Yatta on Friday, May 26, the opposition chief accused President Ruto's administration of overburdening the taxpayer.

Raila noted that the government was wrong to introduce the levy when the country is struggling economically.

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