Ruto Announces Ksh.5 Million Affordable Housing Loan For Kenyans
Kenyans would be able to obtain home loans of up to Ksh. 5 million if President William Ruto’s proposal is submitted to the National Assembly and enacted into law.
Ruto, who has been a proponent of his government’s 2024 affordable housing levy, stated that the house ownership loan will have a low interest rate.
“We shall be proposing to parliament a reform to the law that will allow any contributor to access an affordable home loan of up to Ksh.5 million at a single-digit interest rate,” the Head of State announced during the 62nd Madaraka Day celebrations in Homa Bay.
The financial plan, if approved by parliament, will apply to any dwelling unit on the market.
President William Ruto: In recognition and appreciation of the sacrifice made by patriotic Kenyans through their contributions to the housing levy, I am pleased to announce that today, we shall be proposing to Parliament a reform to the law that will allow any contributor to… pic.twitter.com/vo0Ed2vGjA
— KTN News (@KTNNewsKE) June 1, 2025
“This facility will also enable contributors to offset existing mortgages, offering greater flexibility in their housing journey and allowing many to significantly ease their house financing costs,” Ruto added.
According to the Head of State, the change would guarantee that “every shilling contributed to the Housing Levy works for the contributor, whether through access to affordable housing, home loans, or mortgage relief.”
Ruto has recently been on a mission to popularize the despised Affordable Housing initiative, which has forced salaried workers to hand up smaller pay stubs.
During his visit to Nyanza this week, Ruto revealed affordable housing in Kisumu and Homa Bay.
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This followed a similar performance at Nairobi’s Mukuru kwa Njenga slum.
In Nairobi, Ruto talked about the once-doomed housing project’s success.
“I am happier than you because my dream has been achieved, and it is possible to move the desolate and give them a decent living,” remarked the Head of State.
“They told me that it is not possible, that I am a liar, and today I am here.”
Ruto Announces Ksh.5 Million Affordable Housing Loan For Kenyans
