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State in Sh4bn windfall from housing levy T-bills interest
View of the new Mukuru Housing Estate Phase 1, Nairobi on May 27, 2025. The program is part of government's effort to improve housing affordability and reduce socioeconomic disparities.
Photo credit: Wilfred Nyangaresi | Nation Media Group
The government has earned Sh4.2 billion interest income from billions of shillings in housing levy collections invested in Treasury bills, new disclosures to the National Assembly show amid low absorption rate of the funds meant to build cheaper homes for low and middle- income households.
The State Department for Housing and Development in a report to the Budget and Appropriations Committee also revealed a Sh30.3 billion cash pile of unspent collections from the housing levy set at 1.5 percent of gross employee salaries and matched by employers.
