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State spends less than a third of Sh54bn housing levy funds
Controller of Budget Dr Margaret Nyakang'o before the National Assembly Constitutional Implementation Oversight Committee at the Bunge Tower Nairobi on September 19, 2024.
President William Ruto’s administration absorbed less than a third of Sh54.16 billion remitted by employers and employees towards housing development levy in the first year of enforcement, pointing to delays in the implementation of projects.
Treasury Cabinet secretary John Mbadi says the deductions at the rate of 1.5 percent of gross salaries and wages, matched by employers, narrowly missed the target of Sh54.58 billion for the year ended June 2024 by Sh415 million or 0.76 percent.
