Wafula: Every working Kenyan contributes 1.5% of salary to housing fund

Every working citizen in Kenya contributes 1.5% of their salary to the national housing fund to finance the affordable housing program, Susan Nakhumicha Wafula, Kenya's Permanent Representative to UN-Habitat, stated during the 13th Session of the World Urban Forum (WUF13) in Baku, Report informs.

According to her, employers also transfer an additional 1.5% to the fund, and the collected resources are directed toward implementing the national housing program: "The state budget alone is not sufficient to solve the housing problem."

Wafula noted that the annual housing deficit in Kenya is approximately 250,000 units. She emphasized that the affordable housing program is viewed not only as a construction initiative but also as a tool for socio-economic development.

The Permanent Representative underlined that a strong legislative framework plays a key role in the program's implementation. She also highlighted the importance of public-private partnerships:

"In addition, the country cooperates with financial institutions that provide citizens with long-term housing loans at low interest rates."