The government on Monday released new details on how 500,000 affordable housing units to be constructed under President Uhuru Kenyatta's Big 4 agenda would be allocated.
Speaking at an urban dialogue forum in Nairobi, Housing and urban development PS Charles Hinga sought to allay fears that the project would be hijacked by connected individuals and politicians as has happened in the past.
With all Kenyan employers and employees now required to contribute to a statutory housing fund to fund the program, Hinga stated that blockchain technology would be used in allocation and financial management for the units.
“Kenya will use blockchain technology to ensure the rightful owners live in government funded housing projects," he stated.
A blockchain is a growing list of records linked using cryptography and considered resistant to modification of data due to its design.
It is "an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way."
Treasury CS Henry Rotich previously stated that a number of options were being considered to decide beneficiaries of the project, including first-come-first-serve or a lottery system.
Units under the plan will cost between Sh600,000 and Sh3 million and are split into four different housing types.
“You should not pay more than 30 per cent of your disposable income to own or rent a home.
For an average formal sector earning of close to Sh50,000 per month, one should pay at most Sh15,000 for rent,” Hinga stated.
