Rédaction Africa Links 24 with Kenyans.co.ke
Published on 2024-02-19 06:05:58
President William Ruto’s government is taking steps to address land fragmentation in Kenya by establishing a settlement fund to purchase land. This initiative was announced by the National Treasury, led by Cabinet Secretary Njuguna Ndungu, through the government’s Medium Term 2024 Budget Policy Statement. The policy document, titled Sustaining Bottom-up Economic Transformation Agenda for Economic Recovery and Improved Livelihoods, outlines the plan to enhance rural housing and settlement through the establishment of the Settlement Fund.
The government plans to set up a fund similar to the one used to acquire land from settler farmers after Kenya’s independence. The original plan, initiated in 1963, involved the purchase of land from settlers, with funding coming from loans from the World Bank and the British Government. The current proposal, however, has not specified the source of funding for the Settlement Fund.
Beneficiaries of the government initiative will have the opportunity to gain ownership of the plots acquired through the Settlement Fund. The policy statement explains that the acquired land will be subject to land use planning, and beneficiaries will own transferable residential plots in planned settlements to prevent further land fragmentation.
The Settlement Fund will operate alongside the affordable housing program, which aims to provide low-cost housing mortgages and enable the delivery of affordable housing to the urban population. The government seeks to make homeownership more accessible to the majority of the urban population through this program. The National Assembly is in the process of reworking the Affordable Housing Bill in order to formalize the Housing Levy, which is intended to generate the necessary funds to realize the Affordable Housing plan.
The initiative to address land fragmentation and enhance rural housing and settlement is part of President William Ruto’s government’s larger economic recovery and livelihood improvement agenda. By establishing the Settlement Fund and aligning it with the affordable housing program, the government aims to provide affordable housing and address land fragmentation in both rural and urban areas.
Ultimately, these initiatives seek to uplift the socio-economic status of Kenyans by providing them with the opportunity to own affordable homes and enjoy the benefits of land ownership. As the government continues to develop and implement these plans, it is essential to ensure that the funds for the Settlement Fund are sourced responsibly and sustainably to avoid financial strain on the economy. This will require careful financial planning and consideration of all relevant factors to ensure the success and long-term viability of these important initiatives.
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