H.E President Ruto accompanied by the CS to the Ministry of Lands, Hon. Alice Wahome and other coastal leadership yesterday attended the ground breaking launch of the 2,000 units Mzizima Affordable Housing Phase I and 1,400 unit-Buxton Point Affordable Housing Phase 2, Mvita, Mombasa County.

Affordable Housing Financing will ensure that ordinary people have access to affordable mortgage. Low-income earners will pay an interest rate of as low as 3 per cent a year — as compared to the market rate of 18 per cent annually — to own a house.

This provision of decent shelter will expose Kenyans to opportunities and better health.

In the coastal region, the population is growing significantly with a housing demand of 25,000 units per year. By the year 2025, the population is expected to be at 2.3 million Kenyans.

The Mizima Affordable Housing Project will play a significant role in helping the county ease this problem.

Housing will be a little more affordable to the county’s increasing population as the interest rates are as low as 3 percent in comparison to the current market rate of 18%.

This project will also provide many employment opportunities to many coastal youth in both skilled and unskilled labor.

The project will see an increase in business for local vendors of building materials too.

As we all know, building projects also provide a ready market for the local kibanda for meals, so this will be a win to the many local food vendors in the region.