Kenyan Gov't to Make Monthly Deductions from All Employees' Salaries to Fund Construction of Cheap Houses

National Treasury Cabinet Secretary Henry Rotich has announced plans by the government to set up a fund to raise money for financing the construction of affordable housing units across the country.
Dubbed the National Social Housing Development Fund, the CS said cash collected through the program will finance the building of low cost houses, one of the pillar in President Kenyatta's big four agenda.
Rotich said the move will help ease pressure on the National Housing Corporation (NHC) to focus on mobilizing resources to finance other housing projects.
Rotich proposed changes to the employment act to allow setting up of the special fund, where all employers and employees will contribute monthly to the fund. A maximum of Sh5,000 will be deducted from employees' gross salary with employers also contributing a similar amount.
“I propose to amend the Employment Act to provide that an employer shall contribute to the National Housing Development Fund, in respect of each employee’ in his or her employment 0.5 percent of the employees gross monthly emolument subject to a maximum of five thousand shillings while the employee will contribute 0.5 percent of their monthly gross earnings,” Mr Rotich said during the reading of budget statement in the National Assembly on Thursday.
The CS said the government has also established the Kenya Mortgage Refinance Company (KMRC) to form a public private partnership (PPP) platform to raise funds for developers.
“We have also developed a comprehensive housing package that will incentivize the private sector in the construction of low cost housing. This includes reduction of corporate tax rates to 15 percent for developers who construct at least 100 units per year,” the Treasury CS said.
“We will restructure the Kenya Urban Support Program, Kisumu Urban Project and Nairobi Metropolitan Services Improvement Project, to provide Sh18.4 billion to support the servicing of land in various towns in the country to bring in private developers into the affordable housing program,” he said.
Comments
This means Rotich is…
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This means Rotich is starting another Goldenberg,Anglolishing,NYS etc to freeze Kenyans off their meagre salaries and add wealth to majambazi Kirubi and Wanjigi for un-taxed real estate.Yangu hamupati.
Another Conduit of and for…
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Another Conduit of and for CORRUPTION (at Taxpayer's expense).
Another form of corruption…
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Another form of corruption. Kenya yetu! Why pump money into NYS and now going for the meager salaries of workers?
this is too much not in…
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this is too much not in favour of the taxpayers. we are not even happy of how the funds are being missused now you want more. open your eyes
now I think we need to go…
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now I think we need to go the Egypt way of revolution.this is too much.we must revolt and change things to better.
Why does the common…
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Why does the common mwananchi have to always cater for this selfish government?They government does not even create jobs for youths.People hustle to put food on the table all those elected to power do not even know the price of 1 packet of Jogoo flour and they will come after our hard earned money to cater for their legacy!!!Very sad!!There comes another opportunity for Scandal!!
The only way in kenya is…
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The only way in kenya is revolution like france and rwanda
this is suicidal more so if…
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this is suicidal more so if contribution shall be across the board for all employees.the thinking is also utopic. we should emphasize creation of jobs through value addition and farming. people will earn money and build themselves houses of their choice.
What has the regime you are…
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What has the regime you are serving done with the billions misappropriated by the these so called beautiful women? Give us a break!
..........! let the…
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..........! let the telemundo continue
we need civil disobedience…
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we need civil disobedience to bring this insensitive government to account for gross misdeeds to its people.
This is regimes frustrate…
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This is regimes frustrate. and kill the future of the people in order pill wealth for themselves by stealing thru relatives and confidantes.Revolution is the solution.
I support this idea,but,if…
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I support this idea,but,if and only if, we as Kenyans contributing,be already living in the houses we are contributing towards.we need tangible development. Its better the said bodies get loans,build,then we live as we pay,otherwise this is Kenya,tutachezwa.documents a must.
why was I born from a poor…
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why was I born from a poor family. the rich r just holding meetings on how to take away the little we have
This is not different from…
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This is not different from putting all kenyans before a Firring squad. We are already funding the government through PAYE and other taxes and what we get back is that the money is stollen. Shame on the CS.
How much are the MPS PAY ?…
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How much are the MPS PAY ? No one and i mean no one is mentioning the mps salaries and all other monies they have allocated themselves ?
and do who will get the houses ? fuck the government . this is too much and we are not going to the streets Kenyans are so tolerant we will pray god to help us
utapeli uliopangwa…
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utapeli uliopangwa.... revolution is the solution
These fools think they have…
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These fools think they have it all figured out. When the common mwananchi rises, there is no telling what will happen.
NYS scandal not enough for…
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NYS scandal not enough for uhuru and company.If this turns out to be another scandal, then we will know that uhuru is part of all these and only pretending to be fighting against corruption
The poor has no voice. I…
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The poor has no voice. I wonder y always scandal after the other.#revolution the game.
Revolution like that of…
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Revolution like that of Egypt is the solution .Wakianza kukata ,tunaanza revolution
What a scandal? The…
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What a scandal? The contribution will be free, then a few houses for the already haves,then ooh we need u to register with birth certificate,death certificate,oooh certificate of good conduct, ooh chief's letter, ooh sijui nini......then lastly: A mega corruption again in the ministry of whatever, cases, oooh no-nonsense DPP prosecuting....and mwisho mwisho another idea of playing the same game from another CS.
omtata where are you
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omtata where are you
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