Saccos set to get funding for low-cost house loans

The Treasury has announced plans to spur the building of low-cost houses by setting up a multi-billion shilling housing fund for cheap sacco mortgages, offering tax breaks for developers and eliminating levies paid to State agencies. 

Treasury secretary Henry Rotich in his fourth Budget speech revealed that government was in talks with multilateral lenders to set up a housing kitty that will offer cheaper mortgages to low-income earners mainly through savings and credit cooperative societies.