Ruto's Affordable Housing Plan: Ksh 5 Million Loans for Kenyans

Kenya's Madaraka Day: Ruto Announces Affordable Housing Loan Scheme Homa Bay County, Kenya – June 1st, 2025 – During the 62nd Madaraka Day celebrations in Homa Bay County, President William Ruto announced a landmark initiative aimed at making homeownership more accessible to Kenyans. The president revealed plans to introduce legislation that will allow contributors to the national housing levy to access affordable home loans of up to Ksh 5 million. These loans will carry a single-digit interest rate, a significant departure from previous rates. Furthermore, the scheme will allow borrowers to offset existing mortgages. "This reform will ensure that every shilling contributed to the housing levy works for the contributor," President Ruto stated, emphasizing the government's commitment to easing the financial burden of homeownership. He continued, "Whether through access to affordable housing, home loans, or mortgage relief, this is a significant step towards a better future for all Kenyans." This initiative is expected to have a substantial impact on the Kenyan housing market, potentially stimulating growth and providing much-needed relief to many Kenyans. The proposed legislation will now go before Parliament for consideration.