President William Ruto has signed the new affordable housing Bill into law. This follows the passing of the Bill in the National Assembly and the Senate by Members of Parliament allied to the Kenya Kwanza coalition whose leader is President Ruto.
The new law now means that Kenyans will be pocketing less money every end month as a percentage of their salaries will be deducted to fund the construction of the houses dubbed as “affordable houses”.
Under the new law, employees will be deducted 1.5 percent of their gross salaries. This deduction will be matched by their employers.
Phil Muhia: My business broke even when I created a team that aligned with my vision
“With as little as Sh. 3,000 monthly rent, ordinary Kenyans, including Mama Mboga, will own a house. Our transformational housing programme will dignify the lives of every low-income earner in our country,” a statement on the President’s page said following the signing into law of the bill.
At the same time, speaking when he signed the into law the affordable housing tax, the president said that people who had been left out of making the contributions will now be included.
“The law courts asked us to relook into the Bill, and that is commendable, we now have on board people that had been left out. It is key to note that public participation is not a sterile provision in the constitution,” said President Ruto.
“During the public participation, most Kenyans said the 10 per cent deposit was high and I am glad the Senate considered and we are going to find a way around it soon under the policy direction that will be given.”
