President William Ruto has stated that the affordable housing project encompasses both social and affordable housing components, aiming to make homeownership accessible to all Kenyans. The head of state highlighted that Affordable Housing Financing will provide an avenue for regular citizens to own homes.
The President noted that individuals with low incomes will be able to access loans at an interest rate as low as 3 per cent per year, a significant reduction compared to the market rate of 18 per cent annually.
“We have an opportunity in our lifetime to change and transform Kenya,” he said.
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President William Ruto delivered these remarks during the commencement of the Mzizima Affordable Housing Phase I, consisting of 2,000 units, and the Buxton Point Affordable Housing Phase 2, which comprises 1,400 units, both located in Mvita, Mombasa County. He also officially handed over the Buxton Point Affordable Housing Phase I to its new homeowners.
Earlier in Lunga Lunga, Kwale County, President Ruto visited the Ksh 2 billion Shimoni Fish Port and presented a cheque of Ksh 691 million to support Beach Management Units in the five coastal counties.
In addition, Mr. Ruto inaugurated an electricity mini-grid on Wasini and Mkwiro Island in Kwale County.
Later in the day, the President played host to Their Royal Majesties King Charles III and Queen Camilla during their visit to the Kenya Navy Base in Mtongwe, Mombasa County.
The event was attended by Deputy President Rigathi Gachagua, First Lady Rachel Ruto, Prime Cabinet Secretary Musalia Mudavadi, Cabinet Secretaries Davis Chirchir, Salim Mvurya, Alice Wahome, Aden Duale, and Kipchumba Murkomen, along with Governors Fatuma Achani (Kwale) and Abdullswamad Nassir (Mombasa), along with a host of MPs and MCAs.
