Titling of the slums is the way out. AHP has 800 units in two years.
Billions being collected as housing levy are playing kalongolongo paying salaries plugging cash crunch.
The value of cash collection from the affordable housing levy funds invested in short-term government securities has risen to Sh46 billion, signaling low absorption of mandatory monthly contributions from workers and employers towards President William Ruto’s pet project.
The Affordable Housing Board, the agency that oversees the development of houses and their off-take, says the billions of shillings are being invested in three-month treasury bills instead of idling in accounts awaiting expenditure.
The amount invested in the 91-day Treasury bills has doubled from Sh20 billion in May last year. This emerges as the Controller of Budget warned that the projects being built from the monthly housing levy were engulfed by delays.
why we need AHP - affordable housing
Topic: Nairobi is Basically one big slum (Read 364 times)