President William Ruto unveiled an Affordable Housing Financing program aimed at providing a golden opportunity for ordinary citizens to realize their dreams of homeownership. This transformative initiative is set to be a game-changer for Kenya, enabling low-income earners to become proud homeowners.

President Ruto disclosed that the project comprises two crucial components, social housing and affordable housing, designed to ensure that the benefits of this program reach every Kenyan. Low-income earners stand to gain immensely from this venture, as they will enjoy the privilege of accessing home loans at an incredibly low-interest rate of merely 3 percent per year, a stark contrast to the prevailing market rate of 18 percent annually.

During the groundbreaking ceremony of the Mzizima Affordable Housing Phase I, which comprises 2,000 housing units, and the Buxton Point Affordable Housing Phase 2, with 1,400 units, President Ruto shared his enthusiasm for this opportunity, stating, “We have an opportunity in our lifetime to change and transform Kenya.”

The event took place in Mvita, Mombasa County, where President Ruto also celebrated the handover of the completed Buxton Point Affordable Housing Phase I to its new homeowners, marking a significant milestone in the affordable housing endeavor.

Earlier in the day, President Ruto visited Lunga Lunga, Kwale County, where he inspected the Shimoni Fish Port, a Ksh 2 billion project aimed at enhancing economic activities in the region. Additionally, the President presented a Ksh 691 million cheque to support Beach Management Units in the five coastal counties, further boosting local communities.

Furthermore, President Ruto commissioned an electricity mini-grid in Wasini and Mkwiro Island, Kwale County, underscoring his commitment to improving the infrastructure and essential services in the region.

In a momentous occasion later in the day, President Ruto had the honor of hosting Their Royal Majesties, King Charles III and Queen Camilla, during their visit to the Kenya Navy Base Mtongwe, Mombasa County, strengthening diplomatic ties and cooperation.

This ambitious affordable housing financing initiative promises to bring a brighter future for many Kenyan families and serves as a testament to the government’s commitment to improving the lives of its citizens.