The government has revealed plans to use cash from the 1.5 per cent Affordable Housing Levy as collateral for a Sh100 billion loan in a process known as securitisation, signalling that the controversial deduction could become a near-permanent feature on workers’ payslips.
Disclosures by a Parliamentary committee show that the State Department for Housing plans to take the loan to partly plug a Sh118 billion funding gap in the affordable housing programme as President William Ruto steps up the rollout of the low-cost home ownership scheme ahead of his re-election bid next year.
Read more: Housing Levy could stay on your payslip post-Ruto
