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8 Pages«<678
Affordable Housing by Government of Kenya
githundi
#141 Posted : Monday, May 27, 2019 10:30:03 PM
Rank: Veteran


Joined: 11/19/2010
Posts: 1,308
Location: nairobi metropolitan
On equitable taxation measures, the upper class has a way of getting away without paying their share of taxes. We only document that we need to widen the tax base.
1. How do we forget that the graduated income tax rates terminate at lower middle class segment?
2. Why are some levies and some taxes capped?
3. The betting regime actually reduces taxes on owners and subjects the same to the poor, misled winners? Actually there is need for more regulation in this sector which the owners are fighting.
4. There are currently too many loopholes for tax evasion and avoidance for huge privately owned business which have not been addressed.

We do not need more taxes if only this country can look at equitable taxation and proper utilization of taxes.
Actually, we need tax cuts, deregulation and liberalization of the economy for growth and job creation.
For sure, such will attract the factors of production.
Democracy does not belong to the dead
Lolest!
#142 Posted : Tuesday, May 28, 2019 12:59:36 AM
Rank: Elder


Joined: 3/18/2011
Posts: 12,046
Location: Kianjokoma
githundi wrote:
We, the so called 'middle class' is not getting it. This a tax on formally employed people to support social housing for the poor and business for the rich.
The scrap from this will only be our contribution which shall be decimated by inflation by then. The employer portion is not refundable and contributions do not earn any interest.

So it's a tax on employers! They get nothing in return, not even happier employees!
Laughing out loudly smile Applause d'oh! Sad Drool Liar Shame on you Pray
murchr
#143 Posted : Tuesday, May 28, 2019 3:19:05 AM
Rank: Elder


Joined: 2/26/2012
Posts: 15,756
githundi wrote:
How I would love to see a lean government only involved in facilitative role for business.
History has shown that the most efficient and effective facilitator of progress is the private sector.
Government has a lot of wastage corruption etc to optimize utilization of resources.
Dare I say that government has no role in doing business


That's why corruption is so rampant in govt, because of stretching too far and wide.

Why not just zone out locations, build infrastructure then let investors build the homes. Govt can offer tax breaks and other stimulus packages/ incentives and achieve the goal without forcing people and businesses to something that they don't understand
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
Kusadikika
#144 Posted : Monday, July 08, 2019 5:50:46 PM
Rank: Elder


Joined: 7/22/2008
Posts: 2,681
https://www.businessdail...86210-es3ixo/index.html

Why do I get the feeling tunadanganywa? I might be wrong but I will believe when I see.

Where are the proposed sites of these mega projects? Has the land been identified, surveyed and allocated?

Buruburu is 5,000 houses. So someone is telling us there are plans to build 60 - 100 Buruburus between now and 2022???!!! No wonder Kenya has so many churches and pastors and Bishops, we are a country of miracle believers. Wakenya ni watu wa kuamini.
hardwood
#145 Posted : Tuesday, July 16, 2019 2:42:47 PM
Rank: Elder


Joined: 7/28/2015
Posts: 9,553
Location: Rodi Kopany, Homa Bay
wukan
#146 Posted : Tuesday, July 16, 2019 3:50:34 PM
Rank: Veteran


Joined: 11/13/2015
Posts: 1,450
hardwood wrote:


d'oh! d'oh! d'oh! d'oh! d'oh! d'oh!
https://www.capitalfm.co...n-of-affordable-houses/

Quote:
NAIROBI, Kenya, May 11- Residents of Pangani Estate have each been issued with a cheque of Sh600,000 which will cater for their rent as they await the construction of new affordable houses at the estate.

Nairobi Governor Mike Sonko who issued the cheques said the County tenants will be given priority once the units are complete, where they will be allocated a new house at a price of Sh3 million to be repaid with a 30-year period.

freiks
#147 Posted : Tuesday, July 16, 2019 4:07:56 PM
Rank: Veteran


Joined: 6/8/2010
Posts: 1,727
wukan wrote:
hardwood wrote:


d'oh! d'oh! d'oh! d'oh! d'oh! d'oh!
https://www.capitalfm.co...n-of-affordable-houses/

Quote:
NAIROBI, Kenya, May 11- Residents of Pangani Estate have each been issued with a cheque of Sh600,000 which will cater for their rent as they await the construction of new affordable houses at the estate.

Nairobi Governor Mike Sonko who issued the cheques said the County tenants will be given priority once the units are complete, where they will be allocated a new house at a price of Sh3 million to be repaid with a 30-year period.



They got paid and refused to move out, thats kennyans for you
Life is an endless adventure
murchr
#148 Posted : Saturday, July 20, 2019 5:30:11 PM
Rank: Elder


Joined: 2/26/2012
Posts: 15,756
KBC Online wrote:
On housing, the President said the government is partnering with the cooperative sector to ensure that as many Kenyans as possible enjoy the dignity of owning their own decent homes.

“I am informed that with over 1,980 housing/investment cooperatives with an asset base of Shs 31 billion, cooperatives are an ideal vehicle to provide at least 25% of the 500,000 new houses required across the country,” said the President.

The President revealed that 12 deposit taking saccos have subscribed to the Kenya Mortgage Refinance Company which was recently established as a vehicle to unlock liquidity for mortgage financing under the government’s affordable housing programme.


Uhuru is Wazuan
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
Fyatu
#149 Posted : Wednesday, September 04, 2019 3:31:50 PM
Rank: Veteran


Joined: 1/20/2011
Posts: 1,738
Location: Nakuru
It seems that this affordable housing pillar has taken off. I hope there will be no corruption and hujuma when allocating the units

Dumb money becomes dumb only when it listens to smart money
Fyatu
#150 Posted : Wednesday, September 04, 2019 3:34:19 PM
Rank: Veteran


Joined: 1/20/2011
Posts: 1,738
Location: Nakuru
These ones are in Masaku town

Dumb money becomes dumb only when it listens to smart money
Fyatu
#151 Posted : Wednesday, September 04, 2019 3:36:51 PM
Rank: Veteran


Joined: 1/20/2011
Posts: 1,738
Location: Nakuru
Nothing near the Kilamba city in Angola. I like the straight avenues and straight streets forming right-angle junctions.

Uhuru's dream for Nairobi and Mombasa and perhaps Kisumu will only be attained if his government constructs to such scales as Kilamba in Angola. If Kirubi's Centum is doing such a project on a 10,000 acre farm in Vipingo, i don't see any reason why serikali cannot do the same







Dumb money becomes dumb only when it listens to smart money
murchr
#152 Posted : Friday, September 20, 2019 5:29:56 PM
Rank: Elder


Joined: 2/26/2012
Posts: 15,756
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
kmucheke
#153 Posted : Tuesday, August 11, 2020 4:58:34 PM
Rank: Member


Joined: 3/16/2019
Posts: 172
State to offer mortgage at 7pc in September

Quote:
Kenyans earning Sh150,000 and below per month are from next month expected to start getting house loans from local banks and saccos at an annual subsidised interest of seven percent or nearly half the prevailing market rates.

KMRC will lend money to financial institutions at an annual interest of five percent, enabling them to write home loans at seven percent—lower than average market rate of 11.95 percent or 42 percent cheaper.

The government owns a 25 percent stake in KMRC, with the rest of the shares held by banks, saccos and microfinance institutions. Its board of directors has been in place since July last year.

A few weeks ago, Shelter Afrique and the International Finance Corporation (IFC), the World Bank’s private financing arm, became the newest shareholders of KMRC. Shelter Afrique paid Sh200 million for its shares.
kmucheke
#154 Posted : Friday, September 18, 2020 7:16:28 PM
Rank: Member


Joined: 3/16/2019
Posts: 172
KMRC Receives License From CBK To Commence Lending Business
Quote:

The financial institutions that are participating in KMRC and who are also shareholders of the Company include KCB, Cooperative Bank, DTB, HF Group, NCBA, Absa Bank Kenya, Stanbic Bank Kenya and Credit Bank. Kenya Women Microfinance Bank (KWFT) is the sole MFB (Micro Finance Bank) while SACCOs include Kenya Police, Mwalimu National, Safaricom, Ukulima, Bingwa, Imarisha, Unaitas, Imarika, Tower, Stima and Harambee.

The licensing of KMRC and the expected release of long-term funds to participating banks and saccos is timely for the affordable housing finance agenda in Kenya, especially with the Covid-19 pandemic having severely impacted the mortgage market. With reduced household incomes triggering increase in nonperforming loans and liquidity squeeze especially in the Sacco Sector, KMRC is part of the solution to mitigate the effects of the Covid-19 pandemic in the financial market.

KMRC was established two years ago to support the Affordable Housing Pillar of the Government’s Big Four Agenda.

It will actualize this by providing secure, long term finance to PMLs (Primary Mortgage Lenders), who are then supposed to advance the same to individual borrowers.

The idea is to address the shortage of long-term finance in the Kenyan financial market, while addressing the problem of asset maturity mismatch, which is responsible for the high cost and general inaccessibility of home loans to many Kenyans.
kmucheke
#155 Posted : Monday, September 21, 2020 11:34:40 AM
Rank: Member


Joined: 3/16/2019
Posts: 172
kmucheke wrote:
State to offer mortgage at 7pc in September

Quote:
Kenyans earning Sh150,000 and below per month are from next month expected to start getting house loans from local banks and saccos at an annual subsidised interest of seven percent or nearly half the prevailing market rates.

KMRC will lend money to financial institutions at an annual interest of five percent, enabling them to write home loans at seven percent—lower than average market rate of 11.95 percent or 42 percent cheaper.

The government owns a 25 percent stake in KMRC, with the rest of the shares held by banks, saccos and microfinance institutions. Its board of directors has been in place since July last year.

A few weeks ago, Shelter Afrique and the International Finance Corporation (IFC), the World Bank’s private financing arm, became the newest shareholders of KMRC. Shelter Afrique paid Sh200 million for its shares.


State firm caps cheap mortgage at Sh4 million
Quote:
Home buyers in Nairobi metropolitan area — which extends to neighbouring Kiambu, Machakos and Kajiado counties — will access a maximum of Sh4 million for mortgages, while the funding for the rest of the country has been capped at Sh3 million.

This means individuals who qualify for the subsidised loans or those earning less than Sh150,000, will have to top up their loans with commercial credit should they seek a home above the Sh4 million.
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