Mombasa — President William Ruto has said Affordable Housing Financing has been established to ensure ordinary people have access to affordable mortgages.
He disclosed that low-income earners will pay an interest rate of as low as 3 per cent a year -- as compared to the market rate of 18 per cent annually -- to own a house.
Speaking at Judas grounds when he launched Buxton housing project in Mombasa County on Thursday, the President argued that provision of decent shelter will expose Kenyans to opportunities and better health.
He also launched thr construction of 2,000 unit-Mzizima Affordable before handing over the Buxton Point Affordable Housing Phase I to its new owners.
"We have opportunity in our life time to change and transform Kenya through affordable housing programme, "said Dr Ruto.
He said the housing project will have two components of social housing and affordable housing to ensure all Kenyans benefit from the program
At the same time, President Ruto, said the Government will exploit the potentiality of the blue economy at the coastal region to stimulate development and create jobs.
He noted that the Government is constructing 11 fish landing sites in the region to enhance the fishing industry.
He noted that the fish landing sites will be equipped with cold storage and value-addition facilities to minimise losses and increase earnings.
"We will also train fishermen and equip them with boats to expand economic opportunities for the people," he said.
The President made the remarks during the inspection of the Sh 2 billion Shimoni Fish Port in Lunga Lunga, Kwale County.
He also issued a Shs 691 million grant cheque to support Beach Management Units in the five coastal counties.
President Ruto further said there will be no more importation of fish into the country.
"We must make use of the fish in India Ocean for our local consumption and for export," said President Ruto.
He assured residents of coastal region that Mombasa port will not be privatized,saying it will be improved to create jobs and investments for the people.
Deputy President Rigathi Gachagua, Cabinet Secretaries Alice Wahome, Salim Mvurya, Mombasa Governor Abdullswamad Sheriff Nassir, MPs and MCAs were in the function.
Deputy President Rigathi Gachagua took issue with those criticizing President Ruto's foreign trips.
He said the President's trips abroad have been instrumental in creating new opportunities for Kenyans, attracting investors and expanding the country's market.
"We want to encourage you to go anywhere in the world where you can get opportunities for Kenyans," said Mr Gachagua.
Lands and Housing CS Alice Wahome said affordable houses will enable Kenyans irrespective of their status own decent homes across the country.
Earlier in Mkwiro Village, Kwale County, President Ruto commissioned an electricity mini-grid.
This mini-grid is part of the seven solar mini-grids that will connect islands and off-grid regions in the country.
"Reliable power is the engine of our country's industrial growth," said President Ruto.
Present were Cabinet Secretaries Davis Chirchir (Energy), Salim Mvurya (Mining and Blue Economy), Aden Duale (Defense), and Kipchumba Murkomen (Roads and Transport).
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Others were Kwale Governor Fatuma Achani and her Mombasa counterpart Abdullswamad Sheriff and several MPs.
Mvurya said connecting Mkwiro and Musini island to power will boost the island's fishing sector.
"Now that we have power, we will avail cool storage facilities to boost the region's blue economy," he said.
Governor Sheriff said his government supports the housing projects, saying the move would ensure all Kenyans get access to decent homes.
While at the Kenya Navy Base Mtongwe, President Ruto said Kenya was grateful to the support particularly in capacity building that the United Kingdom continues to offer to Kenya against external threats.
The Head of State who was with First Lady Rachel Ruto, accompanied Their Royal Majesties King Charles III and Queen Camilla. - Presidential Communication Service
