President William Ruto has unveiled a groundbreaking Affordable Housing Financing project aimed at providing ordinary citizens with the opportunity to become homeowners.
Ruto unveils affordable housing & inspects key projects in Mombasa
President Ruto handed over the completed Buxton Point Affordable Housing Phase I to its new owners
The President emphasized that the initiative would comprise two components, social housing, and affordable housing, ensuring that all Kenyans can benefit from the program.
During the groundbreaking ceremony for the 2,000-unit Mzizima Affordable Housing Phase I and 1,400-unit Buxton Point Affordable Housing Phase 2 in Mvita, Mombasa County, President Ruto highlighted the significant impact the project would have on low-income earners.
He stated that these individuals would benefit from an incredibly low-interest rate of 3 per cent annually, in stark contrast to the market rate of 18 per cent.
"We have an opportunity in our lifetime to change and transform Kenya," President Ruto emphasized, underlining the transformative potential of the Affordable Housing Financing initiative.
The President also took the occasion to hand over the completed Buxton Point Affordable Housing Phase I to its new owners, marking a tangible step towards achieving the housing objectives of the government.
Prior to this event, in Lunga Lunga, Kwale County, President Ruto inspected the Ksh 2 billion Shimoni Fish Port, showcasing the government's commitment to boosting economic activities in the coastal region.
He further issued a Ksh 691 million cheque to support Beach Management Units in the five coastal counties, demonstrating a multi-faceted approach to coastal development.
President Ruto continued his tour by commissioning an electricity mini-grid in Wasini and Mkwiro Island, Kwale County, a move aimed at improving energy access in remote areas.
Later in the day, the President hosted Their Royal Majesties King Charles III and Queen Camilla during their visit to the Kenya Navy Base Mtongwe, Mombasa County, fostering diplomatic ties and international cooperation.
The distinguished event saw the presence of Deputy President Rigathi Gachagua, First Lady Rachel Ruto, Prime Cabinet Secretary Musalia Mudavadi, Cabinet Secretaries Davis Chirchir, Salim Mvurya, Alice Wahome, Aden Duale, and Kipchumba Murkomen.
Governors Fatuma Achani (Kwale) and Abdullswamad Nassir (Mombasa) also graced the occasion, alongside a host of Members of Parliament and County Assembly representatives.
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