Homa Bay, Kenya – President William Ruto made a significant announcement during the Madaraka Day celebrations, revealing that Kenyans contributing to the national housing levy will soon be eligible to access affordable home loans of up to KSh 5 million. These loans will be offered at competitive single-digit interest rates, a move designed to make home ownership more attainable for a wider segment of the population.

Facilitating Home Ownership

The President explained that this reform aims to enhance flexibility in housing finance, allowing contributors to potentially offset existing mortgages or secure new financing more easily. President Ruto stated that he intends to propose the necessary legislative changes to Parliament to facilitate the rollout of these loans. He hailed the initiative as a key component of a “housing revolution” that is already demonstrating positive impacts by creating jobs and transforming informal settlements across the country. The President praised the progress of the Affordable Housing Programme and strongly urged Kenyan families to take advantage of the new loan scheme to acquire better, more secure homes.