This is conmanship with a presidential signature and stamp of approval.

The biggest challenge in Kenya is CORRUPTION and TRUST!!!! If NHIF doesn't work and getting your PENSION OR NSSF is such a frustrating process....that's why this housing issue will not be clearly understood...FIX THE mentioned systems and then I WILL TRUST THE SYSTEM...let our P.A.Y.E work for us.

This is the guy to send around for Kenyans to fully understand this housing thing. Wanasiasa as usual have no clue, only defending it because they were told to by Ruto. Excellent job P.S Hinga. I fully support this project moving forward.

@jnapearke.684

Жыл бұрын

mbwa maraya

People have left the rural areas and come to the cities to live in deplorable conditions because the opportunities in the cities are more. The government should be trying to treat the disease not the symptom. Come up with programs to spur growth in rural towns and people will follow the money. The potential of our rural areas is huge especially in the agricultural sector.

@bobware2863

Жыл бұрын

We were brainwashed to think the opposite,I have seen a number of friends who have made massive strides in agro economy and has really made me think how much money has been lost with all the lands some of us have left in the rural following the big city fantasy...

@jamesrut4271

Жыл бұрын

That is where dams come in.

@ritamurungi9492

Жыл бұрын

i think that is also happening

Finally, I have understood. Thank you SPICE for bringing the PS over

Government should make sure this guy goes on all TV and radios and communicate the same way.

@wakawaka5131

Жыл бұрын

Exactly!! Gava has a terrible communications team.

@simplyeleza

Жыл бұрын

It ended up to be bad. Different audiences.

1. Assuming you collect 9 billion per month, that is 108 billion per year, and assuming everything goes as planned, (that's a very very big if), best case scenario at current market prices we're looking at 50,000 units thereabouts for 108 billion, vis-a-vis millions of Kenyans who have contributed to the pool. Who gets the houses? 2. The horizontal infrastructure, the lighting, sewerage, water, internet, etc. How much will it cost, and how is it going to be financed?

@jayjay3334

Жыл бұрын

Lol

I'm Tanzanian citizen, I have learned from this explanation of this PS. May Almighty God grant you an extra power to archive your house plans.

Best explanation I have heard. When are you having him back on the show?

The proverb befits the program and Mr Hinga is the thrower.

Quite informational, we will put the highlights in Kamba. CT Munga never disappoints on proverbs

Government Housing is the one sure way to award oneself a giant chunk of tender without "stealing" -read "getting caught"

PS Charles Hinga points 65% of Nairobians lives in informal settlements 92% of Nairobians are renters 75% of salaried Kenyans earn a gross of Ksh 50,000 or less 97% of salaried Kenyans earn a gross of Ksh 150,000 or less Tenure of mortgage is 10 years. Average house price is Ksh 11M (2017 WB report) Lands is 30 - 50% (avg is 40%) of the cost of housing, NBO land is most expensive in Africa. In other markets, it's 10-15% of overall housing cost. Market will only produce for the 3% who can afford mortgages. AFP is anchored in the constitution and Vision 2030. Housing Cost Intervention Government has opted for PPP as an alternative to increasing taxes or borrowing to fund housing projects. Investors in PPP will have the following from government. Land - 40% of cost Tax relief on inputs - 10% of cost Horizontal Infrastructure - 15% of cost Government will cap the selling price of the houses i.e. The Ksh 11M house will go for Ksh 3M after government interventions. Financing Intervention Rejig the interest rates and loan tenure from 14% interest and 10 years tenure. Aim for 5% p.a. for 25 - 30 years to fit current rent prices for low income group. Housing fund will actualize the ambitions. It is projected to net Ksh 9Bn per month. Maximum contribution is 3% of income capped at Ksh 2,500 that will be matched by employers. Fund will also have voluntary contributors i.e. small scale businesspeople and artisans Housing fund will be a national saving chama / society. The savings will be used for Guaranteed offtake of the PPP housing units in every corner of the country. Provision of 5% interest rate mortgage to members (no bank involved). Increase tenure to a max of 30 years. Sacco models takes 7-9 years to accomplish members goals. AFP will take 2 years to deliver units to members. Industrial Growth and Job Creation Country wide construction work will spur employment and industrial development to provide inputs for the projects.

@Codebake

Жыл бұрын

Going by the numbers: If the government caps those house prices from 11M to 3M it will still take a normal Kenyan paying kshs 2,500 a month kshs 30,000 a year 100 years to pay for the 3M capped price. One more point, if the number of employed Kenyans is 3,000,000 each paying kshs 2,500 a month; the gross collected 3% deduction will amount to 7.5B a month, not 9B ( maybe if the employers' contributions are included).

@joellubamo5696

Жыл бұрын

3million houses worth 3million shillings each =9trilliin. In two years time with 3million Kenyans giving 9billion a month amounts to 208billion. Is the government telling is it has more than 8T to pay the investor after those two years? Riggy G told us the coffees are empty!! This is a pyramid scheme.... The explanation given by CS is vague on this. Secondly 3000/= a month amounts to 900, 000/= in 30 years. I will still not have paid even half Thirdly the houses will be as far as Mandera and lokichogio since it's all over the country. I can build a good house at my rural home with less..

@kgmillionaire

5 ай бұрын

On point!

Wow. So clear. Hope we are all listening. Protection from the banks and interest rates ia a wonderful idea. Hustlers, stop politicking, own a house.

@jayjay3334

Жыл бұрын

We only need jobs and low interest loans and we will build the houses ourselves. This is how you grow the economy

@tmnjoroge

Жыл бұрын

Politicians.. Do as I say not as I do. They all own multiple homes, 5% mortgage. Why do they not want Kenyans given the chance to own homes. Support or oppose ideas on their merit not who put them forward. Opposition and government can both come up with good ideas..

The mp's get to occupy the houses they are paying for immidiately while the common wananchi must be forced to invest in a none existent house and trust that after 7 years the government will refund his money (AFTER TAXING). The government of Kenya is broke and it's eying your money for it's recurrent expenditure while Forcing you to save.

Brilliant minds and ideas but The corruption and greed of individuals in Government kills all these ideas. Too sad we need a firm president who can crack the whip on individuals.

I think this PS knows he's talking....especially to me, Hustler!

This guy should be given a joint press interview like the one that happened in statehouse because he has all his facts right. A bet most of us will join

@allanmwangi2022

Жыл бұрын

It happened yesterday 👍

@joellubamo5696

Жыл бұрын

3million houses worth 3million shillings each =9trilliin. In two years time with 3million Kenyans giving 9billion a month amounts to 208billion. Is the government telling is it has more than 8T to pay the investor after those two years? Riggy G told us the coffees are empty!! This is a pyramid scheme.... Please Victor join alone. The explanation given by CS abuses my intelligence.

lying with a straight face is a must have in current times

@alicebenson8059

Жыл бұрын

Please, go to the same station and explain to us how he lied and give us your truth.

@victortarus2814

Жыл бұрын

@@alicebenson8059 Raila zombies never see anything good

@kylegenny

Жыл бұрын

@@alicebenson8059 never depend on government have self determination.The money will dissapear and be mismanaged as per usual

@lameckcheloti6998

Жыл бұрын

@@alicebenson8059 MATAKO WEWE,WHY CALL PEOPLE ZOMBIES

@alicebenson8059

Жыл бұрын

@@lameckcheloti6998 excuse please, did I call anyone a zombie??

AHS class of '94 alumni...classmates with Kimani Ichungwa and Eric Ng'eno

@kenyann4906

Жыл бұрын

I hold this guy in high regard, but not the other two, especially Ichungwa.

The situation room hands down is the best radio segment in Kenya.

I am ready to contribute

His logic is twisted. Why should you force me to give you money to build another person's house 🤷🏽‍♂️

1. Can he explain which criteria will be used to allocate the houses. Or is the two years applicable to everyone? 2. Most of the people living in the slums are not in formal employment.

TRUST !TRUST !TRUST !TRUST ! so little of it in Kenya after what we have seen with this and previous governments . The Ps's heart is in the right place but when it comes to implementation the insatiable political termites will come out of the woodwork to feast ! We have seen it in dam, classroom, airport , road projects !

@mzuribeauty4287

Жыл бұрын

Kenya's devil is in the implémentation. The government takes loans, CBK points money, grants are given but all end in individuels pockets

@kenyann4906

Жыл бұрын

You're right. It's obvious to even a baby that the level of eating from these projects will be something else

Thanks very much. It is quite clear, that's what Kenyans need.. l urge all to listen carefully.

This is very well articulated.

I like the finishing note, create consumptive demand

Charles has done it so well. Makes alot of sense but it appears the timing is wrong.

One important angle they missed to ask is how as an individual one gets their investment back, if you contribute but never end up buying a house. How do you get a return?

@willybillylaw7339

Жыл бұрын

The bill proposes 4 ways

@NjorogeGATEITEI

Жыл бұрын

@@willybillylaw7339 which 4 ways?

I really learn alot from this show! Thank you.

Well ,I am sorry to have opposed this idea

One of the most significant issues in Kenya lies not in the plans established by the current government, but rather in addressing corruption as a primary concern. As stated by PS Charles Hinga, this housing scheme aims to generate 9 billion shillings per month. This objective may appear commendable, even if only approximately 80% of the funds are utilized as intended. It is also worth noting that certain individuals, such as tenderpreneurs and individual politicians, may directly benefit by becoming owners themselves through the use of proxies. While some may argue that personal profits should not be a major concern as long as the promised outcomes are delivered, I am inclined to agree. The scale of corruption in Kenya is widely recognized as alarming. With a conservative estimate of losing 2 billion shillings each day to corruption, it becomes evident that in just a single month, we are losing a staggering 60 billion shillings. This amount could undoubtedly be utilized to provide affordable housing for all Kenyans in the long run. It is important to note that these conservative figures do not account for instances where exorbitant expenses, such as purchasing ballpoint pens for 8,000KES or a television for 1,700,000KES, are unjustifiably incurred. What people often fail to grasp is that increasing revenue merely covers up the leaks caused by corruption, ultimately magnifying the amount that will be lost.

Sounds nice but why are we starting this when we have things like National Housing Coorporation? National. And what happens to my money if I never get to own one of those units? The model is good but we have a government in place that is tainted with corruption right from the top. Just look at NHC projects in Nyayo and highrise for example, to own a unit has to begin with a bribe(what I have heard) and then see how they struggle to get water into those units. Ngumu kiasi.

The PS should know that those houses may be built and no one will buy them or live in them. Remember a community in Northeastern where boreholes and water pans were constructed and the women rejected saying the project interferes with their only free time to mingle with one another on their way to looking for water far from their homes

@joelmacharia327

Жыл бұрын

its cleary there problem wasnt water

@matildatieno

Жыл бұрын

True most of us our problem/ priority is not housing

@edddelarocka9753

Жыл бұрын

😂😂😂😂

@ralph839

Жыл бұрын

I have never heard of that story before about water pans and quite honestly, I don't believe you.

Wow! Beautifully explained!

Some of the CS have already gone home. So 9 billion id tempting, somebody is going to be tempted. Let him guard his works

If only 3% of payslip Kenyans earn more than 150K, how much will an additional 5% PAYE generate for the government? This will see even a lower number earning above that threshold in the long run

@kahugumuiruri9057

Жыл бұрын

150k will yield 9k to the fund, 4,500 for each employee and employers contribution. How much will each house cost to build? Can they even raise enough for the 200k houses they are talking about? Curiously they have no targeted amounts from the fund.

@bobware2863

Жыл бұрын

The issue is not making the project work, their goal is focused on cash flow,they know very well,it won't work, basically all they're doing is eating from the lower cader,if you made 30k gross,how long will you contribute, knowing that your chances for work for an employee on any given chance in a company might peg around 5years if you are lucky,how many people would be employed in the current status for over 10yrs? People are getting laid day in day out,no salaries are consistent in government, private businesses are already being punished with taxes so they're going to reduce their contracts....so they know this contribution is set to be unsustainable and they haven't explained what happens in such situations.doesnt seem their is a way you'll get your money back, for those who find themselves jobless after contributing lets say 60 % and for whatever reason,you lose your job at the age of 45-65 where you cannot be employed as you are considered "old" then what happens to your contributions? This is an out right theft of you asked me....

@big-daddy-k

Жыл бұрын

It is capped at Kshs. 2,500

Thanks for the clear explanation.The president is out to help kenyans but please educate them first because of trust deficit and suspection

The president when we were in informal sittings discussing our manifesto talked of the brilliance of this man on matters housing....People need to seperate the noise from reality. I believe WSR will deliver on housing promise. Indeed there is a day we will celebrate the eradication of kibera, mathare etc under WSR

@normanthenormand7554

Жыл бұрын

You must be dreaming. You elect people who have never built anything and then expect them to build something. The only record Ruto has is that of land grabbing and stealing. That's why he is shameless appointing thieves in the govt and withdrawing their court cases.

@triplebeans4159

Жыл бұрын

They will rent their houses and go back to their informal structures to be able to pay for other needs the slums are not going anywhere.

This sounds very interesting and very good ... The problem is that during implimentation human greed will show it's ugly face and the end result will be very different. Some individuals will take all the units, then resell them at full value ... Or they would be several hurdles that end up engineering who gets the units.

@josiahwanjiku9187

Жыл бұрын

You cannot sell them, you're under a contract with the Housing Fund for 30yrs till you pay it off. Any attempt to sell it is a breach of the contract & anyone willing to buy that house wants to loose money!

@wayando

Жыл бұрын

@@josiahwanjiku9187 ... People sell things without doing direct paperwork. This is done all the time when selling illegal things. Other things are attached to the deal to enforce it.

@josiahwanjiku9187

Жыл бұрын

@@wayando . So, you are telling me u can buy a property without a title deed. Who's the stupid here? That's not only idiotic but the highest form of imbecility!

@triplebeans4159

Жыл бұрын

That's pretty much all government projects in a nutshell.

From my standpoint, foreign investors are hurting us alot when it comes to paying them back where they want to be paid at the current dollar rate which ends up making Kenyans to pay more in later years. Unless the government enters into hedge arrangements

Spice FM and team you need to consider a "fact checker" segment where factual analysis is done to confirm statements, percentages and numbers shared in such interviews.

3 M for a 2 bedroom house is enough for me to buy land at 1.5M and build a quality 1 bedroom house in outskirts of Nairobi the housing bubble being implemented what US residents call PJs as too many residents. Unless done in Dandora,Mathare,Kayole to improve livelihood

@wanjirucatherine9962

Жыл бұрын

Civil servants are all over Kenya .wish they would talk of housing in county governments than in Nairobi. Truth is 3m it's a good 2breedrom house with a compound and kitchen garden

20:00 taxes are the reason housing is very expensive as they account for about 50% of the costs involved in the construction process

Great Explanation

Very good explanation on this issue.

Best explanation ever. HINGA should, must be invited again.

Wow! SpiceFM actually deleted my comment. 😂😂🙌🙌 I guess I asked too many uncomfortable questions. My simple request was this; when you have a conversation about housing and financing of housing with PS Hinga, please bring in the Cytonn and Nabo Capital CEOs into the conversation. These CEOs have real first-hand experience in financing of housing, and they will ask better questions about this GoK housing scheme than the Radio Presenters ever could.

Where are these 'free land'?

A similar PPP model is the Low Income Housing Tax Credits program in the US. All what is being said will work if the proper structures are in place to attract investors and goodwill to protect the investments.

@tmnjoroge

Жыл бұрын

No need to reinvent the wheel..

@MelanatedQueen254

Жыл бұрын

@Nuffsed World Entertainment it is not US vs Kenya. What the PS is talking about is very similar to the program I mentioned. As I said, it takes a lot to attract investors and the goodwill to put structures and systems in place to protect the investment. That is what Kenya has not displayed or proved to have.

The problem is corruption

The way CT Muga is looking at this man in the hot seat sums it all lol 😂

The problem that the KK govt has is alot of individuals lacking in intellectual capacity and professional acumen. The Honourable PS is like a rare occurence of that capacity. compare that to Kibaki's govt. You never needed any minister to come up on national tv to convince Kenyans that were doing the right thing. it was just work work work. So thats why this housing thing has Kenyans up in arms. All the same the bottom line is let Kenyans decide if they want to join. Thats why we pay Tax!!!

We don't need more houses,let the wise come up with manufacturing or water processing plant like the Libya irrigation project,no matter how small.Even manufacturing of lamps or mosquito nets or most pressing requirements.For heavens sake, people can't even access clean water.yet we are going for houses?

@jahzinho5784

Жыл бұрын

Our priorities are so warped, its mind boggling. 2023 and Kenyans are still having piped water issues and here we are insisting on housing. We have barely improved on what the colonialists left and this housing scheme will turn out like NHIF/ NSSF.

15:34 I don’t agree that tax and borrowing are the only two sources of income. I want to suggest 3 more sources 1) cutting govt expenditure, less expensive cars, trim cabinet to basics, reduce politicians loan amounts 2) tax all politicians and you will never need to borrow or increase taxes for the next 5 years and 3) lastly improve tax collection. The easiest way to do this is by demanding big corporations digitize their operations and you can have visibility into their operations. You may not eliminate tax evasion totally but you will improve tax collection. Just by doing these 3 things the govt will get so much money they won’t even know what to do with it. Taxation for those already over-taxed is not a solution.

Bwana we have said we don't want we are the people nini hamuelewi

mr hinga is very competent on this

I have always respected PS Charles Hinga. From the outside looking in, he seemed to be doing fairly well under Uhuru's government. And I think whoever made the decision to retain him made a good choice

Waoh the thinking of this man is at another level...i love this, Raila alete his oppostuon....

@MrJIA1980

Жыл бұрын

Not really this thing doesn't address the root causes of the housing problem and it will be poorly implemented

@ericjack290

Жыл бұрын

Same way hustler fund was explained and attracted voters.

A lot of hot air.

I hear you very well... But one thing that is not been said is that the best chamas work when there is a high level of trust,solidarity and loyalty. Why this will not work? Because Kenyans lost the sense of trust, solidarity and loyalty.

Very good insights kindly spice we Need more from Hinga and as a daily fan of the show bring him back soon. Thank you

Very well said, but if one doesn't have a job how do they benefit from this? It makes sense on paper and on TV, vitu kwa ground ni tofauti sana

That was a superb interview and excellent articulation!

29:43 So essentially, the idea behind making the housing fund mandatory is to make the houses affordable to the masses by using the pooled funds to pay off investors so that the 'hustla' mwananchi can afford a housing unit that would've costed him, say 30k per month at the same amount he's spending on rent in the shack he's renting in some slum.

Always comparing Kenya to USA. Please Kenyans, don't.

@ciirunderitu2528

Жыл бұрын

They have this illusion and fantasy that its just a matter of time before they get there. They even talk of a Kenyan dream... smh. For the majority of the citizens its a nightmarish existence and will remain so for several generations, unfortunately.

@Metro-yk3bk

Жыл бұрын

Annoying this comparison. US is a 25 Trillion dollar economy vs Kenya's usd 120 billion. In 1990 when I finished high school, Vietnam's GDP was USD 6.5 billion while Kenya's was at USD 8.5 billion. 3 decades later, Vietnam's GDP is usd 370 billion while Kenya is at usd 120 billion. These are the countries we should be copying and learning from. And there are several of them mainly in Asia instead of trying to draw comparisons with USA.

Basically making everyone put a down-payment for a mortgage. Makes sense but your common citizen won't agree to the forced saving. Nothing comes out of Nothing so as harsh it is in a 3rd world country the results will be magnificent

How do you deal with people who default on rent or people who get retrenched from their formal jobs after they have assumed ownership of a house

Great Explanation. When are you having him back? We need more communication on this issue.

They could have say that government is introducing a chama.

Articulate. Explanation such is this brings clarity. If the high & mighty Judges, MPs benefit from low interest rates of 5%, the lowly should b afforded equal benefits. H E ur Govt needs people like the P S

Coming here after watching Sifuna vs Khalwale debate on this topic. At first I was skeptical, but 16:48 minutes in and I'm sold on this

listening to him the thinking is noble. However, the problem is always with the execution. Greedy individuals hijack the procurement processes and inflate costs. we start with noble ideas but end up with incomplete/elephant projects and when/where the projects are completed, the quality is seriously compromised. At the end of the project(s) we end up with a few more billionaires and many more millionaires at the expense of the taxpayers and in this case housing fund contributors. In addition, the debt burden grows and the vicious cycle of over-taxation to meet debt obligations continues......

Brilliant Stuff 🔥🔥

😮

Sounds good....this Hinga man can sell ice to the Eskimos!

@kimurikaigua6027

Жыл бұрын

😂😂😂😂

I thought they were building a house anywhere. Some people have ancestral lands where they will retire.

Great explanation indeed. Mr Hinga has spoken about low income earners who are already benefiting from government housing . I assume those are not the fruits of the current but previous government. The current uproar has been caused by new conditions that is higher rates and the fact that it is mandatory. So the question is how did the previous government deliver . How much were Kenyans contributing , was it compulsory? I belive Mr hingas ideas could be applied across board to enable Kenyans from all walks of life afford homes. We have to consider every Kenyan including the middle class would like to own homes as well and they're not interested in government housing. So government should offer a solution that will make home ownership affordable for all. In developed countries, mortgages are usually not more than 4% and through proper use of taxes and intolerance to corruption government provides infrastructure and services. Forcing Kenyans to build homes for a specific income demographic does not solve the housing problem. Claiming that the youth will get jobs in also not reason enough, build the economy , make education affordable and jobs will follow. All in all the reasons given to force Kenyans to pay up for this housing scheme don't add up. This goverment is simply trying to fund its budget through all means possible

Excellent communicator

The problem with govt is communication. They let selfish polticians and self interested groups to fill the misinformation space. The govt should be on every station, talk show, radio station, explaining the housing fund. When will the govt learn. Thats why the huduma number failed which was a good idea.

@gracenjuguna7292

Жыл бұрын

Problem is corrupt governments and lack of trust. Not communication actually

@jamesrut4271

Жыл бұрын

The real estate developers are leading the onslaught because they feel threatened but they are only serving 3% of the population.

Bring him back very informative

This is an idea I support

The *idea* is actually *fantastic!* However, alot of the money will *definately* be pilferred. This one is a given. Don't argue with me. Combine it with a heavily debt laden government prone to re-purposing funds because things are thick - massive debt plus runaway corruption. This simply means that we *CANNOT TRUST* your wonderful idea to ACTUALLY translate into the beautiful story you have laid out here. Lakini sasa juu watachukua by force by fire anyway, tufanye nini sasa? Shut up and bend over.

the Ruto goverment should invest on information dessemination. educate kenyans.we have a trust deficite desease.

Stop confusing Nairobi problems with Kenya's problem. I think the PS needs to travel to other parts of the country

@danrono9725

Жыл бұрын

Hata sisi in Nakuru as with most urban areas in Kenya we have informal settlements, there are almost 1200 slums all over the country, I don't think housing is a strictly Nairobi problem

@kingorimbuthia2333

Жыл бұрын

There is a slum in almost every town in Kenya. Fact.

Hehe ati raise money and give it to private investors (Ruto and his cronies), how is this going unmentioned

Pie in the sky 🎉😅 the PPP arrangement will be with one developer. Why not PPP with home owners direct? PPP should even be able to buy a single pen and not just on such gigantic project.

How will every salaried Kenyan access this? What will happen > the big thieves will swoop in allocate 5- 10 houses to themselves. Just think about this - if 97% of Kenyans can afford mortgages it means that they need to build housing for this 97%. We have 30 years to pay. In year 1 they will not allocate all the houses to all of us. Meanwhile your age is not slowing down. Some of us will probably have some allocation by year 10 and by that time you won't be able to pay the mortgage. What we should ask is the number of units that will be completed each year versus the 97% that needs the housing. Let's look into the Erhiopia model and if its working. We just don't trust the government. They need funds to pay debt.

Kenya is so far gone that it will take A LOT to bring it back. Infrastructure, systems, goodwill, trust etc. All is possible though...

@wayando

Жыл бұрын

When we have a mega thief as President, trying to be our savior ... It will take alot of convincing before we are able to buy it.

Kenyans should be afforded the same perks as the MPS. They should be paid the same amount as the MPS. If the 3% is not a tax, then Kenyans should have a choice of whether they want to participate in this scheme or not. Cut the MPS pay by 50% and pay for building houses for Kenyans. Kenyans never talk about cuts. These goons are overpaid.

@jamesrut4271

Жыл бұрын

Cutting MPs pay is being proposed by graduating the tax bands from 30% and adding another 5% on anyone earning more than 500K. However people without jobs are complaining on behalf of the top earners

@lucywanyika

Жыл бұрын

​@@jamesrut4271 how is an additional 5% equivalent to cutting down their salaries by 50%?

@jamesrut4271

Жыл бұрын

@@lucywanyika this is better than nothing. MPS have the final say. They will never cut their salaries. And BTW CSS, CEOs, PSs and chairpersons of boards earn almost the same or more than MPs. The 5% graduation will knock over 100k from each of them. The people complaining on their behalf are jobless or earn very low wages.

Bait and Switch...

The numbers he is dropping simply don't add up! Starting from 11M mortgage at 14% for 10 years.... it comes to 170k; not 143k 3.5M mortgage at 5% for 30years comes to over 18k; not the 5k he is suggesting The whole thing will stall - just like the BRT that he was in charge of in the last govt!

@kahugumuiruri9057

Жыл бұрын

I'm missing something here, who funds the mortgages?

39:11 PS Hinga is very good at explaining concepts. If he'd been debating Sifuna instead of Khalwhale, he'd have wiped the floor with that senator

Why is this guy assuming payslips aren't committed???

My take is with the urban to rural migration fans the flames of having informal settlement. The statistics you gave at the beginning of the conversation about the percentage of people having a payslip etc was skewed to,in my opinion, assume that all of those are in the urban set up. First of informal settlement across the globe even in developed nations exist. If not so then the homeless sludge. It's to me an issue of morality. Which cannot be legistlated. Devolution envisioned a reduced urban to rural migration. It sadly hasn't. To assume that the housing fund is going to in some way help Kenyans own homes is a long shot. Take a farmer selling eggs in Chaka market Nyeri living at his farm and employing two people at his hatchery. Explain to me why he will buy into your grandiose idea...and what is the experience and the levels of success in other funds? Am sorry am skeptical

Government should rethink the model and factor in a tangible favourable concession for those who contribute to the scheme. For instance, is it unfeasible to treat all contributions as upfront deposit for a house/unit? If contributions are called savings, then they must be seen to be.

What if someone dies before completing the mortgage payment?

@TheNationalist-w9v

Жыл бұрын

That's an unfortunate situation

Impressive statistics will reveal the truth. The housing fund and project's destiny awaits time's judgment.

Did i hear in 2 years you will have a house, if you are LUCKY?