Elevate income to solve housing crisis, Moi tells Ruto

Kenya African National Union (KANU) chairperson Gideon Moi, has called on the Kenya Kwanza administration to take proactive measures to make the National Housing Fund a success.

In a statement on June 23, Moi said addressing the rapid growth of informal settlements requires a broad approach that goes beyond affordable housing initiatives.

"In the case of the National Housing Development Fund, swift action is required to institute a robust legal, policy, and administrative framework that will govern the management and administration of the fund to ring-fence it for its sole primary purpose; the construction of affordable houses for the people of Kenya," Moi stated.

He says that the initiative can be effectively achieved by promoting the county's economic growth by elevating labour incomes and bringing more people to the formal sector.

Moi also suggested that the government should take proactive measures through job creation to attain economic prosperity.

"Implementing favourable tax regimes and creating a business-friendly environment by reducing bureaucratic obstacles will attract direct foreign investment, particularly in industries that foster manufacturing and value addition," he added.

Earlier this week, Members of Parliament approved the proposed Finance Bill, 2023 after a third reading as it now awaits ascension into law by President William Ruto.

The MPs approved over 70 amendments to the Bill and the key contentious issues in the Bill included the housing levy which was amended to 1.5 per cent of gross pay from the initial 3 per cent.

Additionally, Moi said that as the Finance Bill 2023 awaits ascension into law, there is a need to continuously bolster parliament as an independent institution that must serve the interests of the people.

"Moving forward, the government should prioritize establishing transparent and accountable systems to seal avenues of corruption to ensure taxes are utilized as appropriated," he said.