Impact of the Finance Bill 2024 on housing and settlement in Kenya

A child quenches his thirst from a leaking water pipe where his parents' house was demolished recently in Nairobi's Mathare slum on June 13, 2024. [Denish Ochieng, Standard]

The Finance Bill, 2024 carries significant implications for the housing and settlement sector, aligning with the government's commitment to address the country's housing challenges. This analysis explores the impact of the Bill on housing, considering its provisions and their potential consequences.

Article 43 of the Constitution of Kenya enshrines the right to accessible and adequate housing and sanitation, recognizing this as a cornerstone of economic and social rights. However, Kenya grapples with significant housing shortages, especially in urban areas where rapid population growth and rural-urban migration strain existing infrastructure. Informal settlements, with inadequate housing and basic amenities, are common.