Kenyans withdraw billions from Boma Yangu despite growth in housing savings

Nearly half of the Sh5.47 billion mobilised through the Boma Yangu platform has been refunded to contributors after more Kenyans chose to withdraw their savings. The increase in withdrawals comes as more contributors who had signed up to buy government affordable houses exit the programme by requesting their savings back. By May last year, refunds through the platform stood at Sh788 million but have since more than tripled. During the same period, net savings increased from Sh926.4 million to Sh3 billion, although refunds grew at a slightly faster rate compared to fresh contributions. A special audit of the Boma Yangu portal covering July 2020 to May 2025 showed that refunds to prospective buyers under the Affordable Housing Programme had increased three-and-a-half times since President William Ruto took office.