Cabinet Secretary for Lands Zachariah Njeru on Wednesday, May 31, rallied officials from World Bank to support President William Ruto's Affordable Housing Programme.
While addressing the 9th Global Affordable Housing Conference in Washington DC, Njeru told the delegates that the Kenya Kwanza administration was not about to back down on the flagship project since the country was facing a crisis.
The Lands Cabinet Secretary noted that President Ruto and his Kenya Kwanza administration had an indispensable role in making affordable housing a reality.
"If we embrace Industrial Building Technologies correctly, we will certainly be effective in cutting costs for large-scale construction projects, potentially enabling more affordable housing projects to be initiated," Njeru stated.
He told the global financial experts that the government was working on long-standing policies that would guide affordable housing programmes by creating an enabling environment for investors.
He explained that the policies would also create a sustainable funding mechanism that would be beneficial to both the government and local and foreign investors.
According to Njeru, Kenya was facing an acute housing crisis, especially, in urban centres due to the high cost of building as a result of inadequate regulatory housing policies.
"Policymakers can make housing programmes successful by crafting policies that promote use of emerging technologies, build capacities and enhance public awareness about the benefits of new innovations," Njeru stated.
The Cabinet Secretary noted that the majority of citizens of countries including Kenya have traditionally been locked out of home ownership.
"Some of the challenges that have stifled access to housing include lengthy mortgage processes, difficulties with property registration, lack of standardized mortgage underwriting processes and lack of affordable end-user financing among others," Njeru explained.
Njeru also promised investors that the Kenyan government is bestowed with the duty to find innovative solutions around practical housing finance and the use of technologies.
The CS noted that affordable housing is an initiative where Governments, international organizations, private developers and financiers have united to make a difference to bridge the gap and fulfill Goal 11 of the Sustainable Development Goals (SDGs).
