The Kenya Revenue Authority (KRA) has silenced critics of the controversial Housing Levy by collecting a staggering KES 73.2 billion in the 2024/2025 financial year, smashing its target of KES 63.2 billion by over 15%.

The surplus, revealed in new Treasury data, indicates a near-total compliance rate among formal employers, despite initial threats of mass protests and litigation. The 1.5% deduction from gross salaries has become a cash cow for the Ruto administration, providing fiscal breathing room for the ambitious Affordable Housing Programme.

Where is the Money?

While the collection is a success for the taxman, questions abound regarding utilization. The report indicates that nearly half of the collected funds are currently invested in Treasury Bills and Bonds rather than active construction sites. The government defends this as a "safeguarding measure" while projects in Mukuru, Bondeni, and Homa Bay scale up.

• Mukuru Project: Over 1,080 units are nearing completion, a visible flagship for the levy.
• Bondeni & Homa Bay: Smaller projects of 605 and 110 units respectively are progressing, but critics argue the pace does not match the billions collected.
• Transparency Gap: The Opposition has demanded a "Shilling-for-Brick" audit, fearing that the surplus might be diverted to plug recurrent expenditure deficits in other ministries.

The "Hustler" Reality

For the average Kenyan worker, the KES 73.2 billion figure is a bitter pill. With inflation biting and statutory deductions consuming nearly a third of payslips, the "success" of the levy feels like a personal squeeze. "They are celebrating collecting our money," said Jane Wanjiku, a teacher in Nairobi. "But where are the houses for us? We see the billions in the news, not on the ground."

President Ruto has maintained that the levy is a "saving" plan and an employment generator. With the KRA exceeding expectations, the pressure now shifts from collection to delivery. The government has no excuse: the money is there. The houses must follow.