On Tuesday, October 25, 2022, Ms. Carole Kariuki, the KEPSA CEO joined President William Ruto in the launch of the proposed Kibera Soweto East Zone B Social Housing Project in Lang’ata, which is part of the Government’s affordable housing plan.

Speaking during the ceremony, the President said that such projects will hasten slum upgrading in the country allowing low-income earners, especially slum dwellers to own a house.

According to Statehouse, the housing units will allow monthly payments from as low as Sh2,400 for a one-bedroom apartment. Under the tenant purchase scheme, the two-bedroom and three-bedroom apartments will go for Sh4,600 and Sh6,500 a month, respectively at a three percent interest rate.

In the recent past, KEPSA has held several engagements with State Department for Housing and Urban Development to streamline the Affordable and Decent Housing sector, especially on policy matters, with an aim of enabling the private sector to participate effectively in the Affordable Housing Sector.

Some of the policies that KEPSA has worked on jointly with the State Department include:

1. Development of Kenya Affordable Housing Programme Development Framework Guidelines, which provide qualitative guidance on the key components of the Affordable Housing Programme. The guidelines provide instruction on how the vision and policies of the Government of Kenya will be implemented and how progress will be monitored and3 reviewed.
2. Gazettement of the Stamp Duty (Valuation of Immovable Property) Regulations 2020 which gives property buyers the option of using Government Valuers or hiring an approved private valuer, to undertake stamp valuation.
3. Enactment of the Section Properties Amendment Act 2020. The Act provides for the division of buildings into units to be owned by individual proprietors and common property to be owned by proprietors of the units as tenants in common, to provide for the use and management of the units and common property and address the contemporary challenges associated with ownership of property in a sectional property environment.
4. Enhancement of Kenya Mortgage Refinance Company (KMRC) which is an initiative by the National Treasury and World Bank to support the affordable housing agenda by providing secure, long-term funding to mortgage lenders, thereby increasing the availability and affordability of mortgage loans to Kenyans.
5. Adoption of KEPSA proposal to review the National Housing Fund Regulation 2020 to make a contribution to the National Housing Fund voluntary.