Kenya's Parliament approves Affordable Housing Bill, introducing a 1.5% levy for affordable housing, job creation, and sector growth.
Kenya's Parliament has approved the Affordable Housing Bill, allowing county governments to administer affordable housing programs and form committees for framework development. The bill, awaiting President William Ruto's signature, introduces the Affordable Housing Fund, with a 1.5% levy on incomes paid to employees in the formal sector, matched by employers. The program aims to provide affordable housing, create jobs, improve living conditions, and boost agriculture and manufacturing sectors.
March 15, 2024
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