N
Originally published by Nation News
📰 Read Full Article
top
July 23, 2026
16h ago

PS Hinga: Bulk of Boma Yangu ‘refunds’ paid deposits for home buyers

PS Hinga: Bulk of Boma Yangu ‘refunds’ paid deposits for home buyers

Hinga says the Sh2.56bn figure includes both cash refunds and deposits for customers allocated houses...

✨ Key Highlights

Principal Secretary Charles Hinga has clarified that the bulk of the Sh2.56 billion reported as 'refunds' on the Boma Yangu platform was actually used as deposits for home buyers, not direct cash reimbursements.

  • Sh1.76 billion of the total figure was transferred to pay deposits for allocated houses, while Sh803.3 million was actual cash refunded to individuals who opted out.
  • The clarification comes from PS for Housing and Urban Development, Charles Hinga, addressing a previous report based on audit data.
  • The Boma Yangu platform allows Kenyans to save systematically for affordable housing deposits, employing a two-wallet structure to manage funds.

Continue Reading

Read the complete article from Nation News

📰 Read Full Article
Advertisement
Advertisement