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Originally published by Capital News
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July 22, 2026
3h ago

Housing PS says Sh2.56bn ‘withdrawals’ reflect home purchases, not exits

Housing PS says Sh2.56bn ‘withdrawals’ reflect home purchases, not exits

Hinga rejected media reports suggesting contributors had withdrawn Sh2.56 billion from the scheme due to declining confidence...

✨ Key Highlights

Kenya's Housing Principal Secretary Charles Hinga has refuted claims that Sh2.56 billion withdrawn from the Boma Yangu platform signals a collapse of the Affordable Housing Programme.

  • The Sh2.56 billion figure was misconstrued account terminology for savings converted into home purchase deposits, not exits from the programme.
  • Housing PS Charles Hinga clarified that Sh1.62 billion of this amount was directly applied to the purchase of homes, specifically for the Park Road Affordable Housing Project.
  • The Principal Secretary defended the programme, highlighting it as a constitutional obligation and detailing ongoing construction of nearly 300,000 affordable housing units nationwide.

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