'Nothing will go wrong!' Ruto assures Kenyans housing fund deductions will be in safe hands

Speaking on Wednesday during the launch of the Kenya Urban Forum, 2023 in Naivasha, Ruto said he will be personally responsible to ensure the monthly deductions set to be made from workers’ salaries to the housing fund are accounted for.

The Head of State said an oversight board comprising members from the private and public sector will be set up to oversee the implementation of the Affordable Housing Programme (AHP) through the Housing fund.

“Parliament is going to discuss the Housing levy fund and how it will be managed. The oversight board will be representative of both the government and private sector. We are going to ensure that there is a proper accountable mechanism. I know very well as a politician that if something goes wrong, I will be held to account politically. I must make sure nothing goes wrong,” said Ruto.

He added: “In the board for instance we are going to make sure we have pension funds, Federation of Kenyan Employers on board, representatives of public servants, trade unions, government in its broader sense involved and counties to make sure this fund is accountable.”

The Head of State reiterated that the Housing programme was the solution to the country’s housing, employment and manufacturing challenges therefore concerns over how it will be governed should not hinder its implementation.

“Are we going to walk away from our housing programme that has the potential to sort out our slum, manufacturing, and unemployment problems because we are scared governance will run into trouble?"

“It is our responsibility to sort out the governance. We must not allow governance to stand in the way of the huge opportunity we have to transform our country. I'm willing to look Kenyans in the eye and say the buck stops with me and I will answer for it,” asserted President Ruto.

The President brushed off sentiments that implementation of the Affordable Housing Programme was bedevilled by trust issues, stating that most Kenyans are now embracing the agenda.

The Head of State cited support from the counties, noting that all the devolved units had accepted to provide land for construction of the affordable housing units.

“One place the counties and national government have a convergence of action and ideas and concurrence of agreement is on Housing. Every county has identified a place for us to do affordable housing because they see an opportunity to provide housing for their citizens, create jobs and industry for their counties,” said Ruto.

“I’m decisive and intentional about making sure that we hold the trust of the people of Kenya by making sure they get value for all their resources.  We are going to make sure that this fund like all other funds are held in a manner that is accountable to the people of Kenya; by making sure that we have an oversight board and it is run professionally.”

The Housing Levy contribution by employers and employees has been reduced from the proposed 3 to 1.5 per cent and will take effect as soon as the President ascends to the Finance Bill 2023 once it's approved by Parliament.