Housing PS says Sh2.56bn ‘withdrawals’ reflect home purchases, not exits
Housing Principal Secretary Charles Hinga has clarified that the Sh2.56 billion recorded as withdrawals from the Boma Yangu platform are actually conversions of savings into home purchase deposits. He dismissed media reports suggesting that contributors are abandoning the Affordable Housing Programme due to a lack of confidence.
Why it matters
This clarification addresses public concerns regarding the stability and success of a major government infrastructure initiative in Kenya.
Listen Speaking during a press briefing in Nairobi, Hinga rejected media reports suggesting contributors had withdrawn Sh2.56 billion from the scheme due to declining confidence, saying the figure largely represents savings converted into deposits after successful applicants were allocated affordable housing units/CFM NAIROBI, Kenya, Jul 22 – Housing Principal Secretary Charles Hinga has dismissed claims that Kenyans are abandoning the government’s Affordable Housing Programme by withdrawing billions of shillings from the Boma Yangu platform, insisting recent reports misinterpreted the programme’s financial records.
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