, 7 tweets, 2 min read Read on Twitter
@StateHouseKenya housing project is I'll conceived. First, people don't live in slums because there are no houses, but coz they are poor.
President needs big money, Sh 1.4 Trillion about 20% of the GDP, clearly this is a man in hurry, to where is the question🤔

1/6
If financed entirely by debt, it will translate to Sh 30,000 for each of the 50 million Kenyans. Uhuru wants to tax Kenyans above the already high taxes, to build 500,000 units before he leaves office, yet against annual goal of 200,000,GoK have only managed 3,000.

2/6
The project is likely to fail for the most obvious reasons:
- Poor planning
- Lack of funds
- Corruption
- Weak and wrong political leadership
- General implementation weaknesses.
How affordable is a house going for Sh 2.8 Million? To who are these houses affordable?

3/6
Applying World Bank parameters for affordable housing in Kenya, only households with a monthly income of Sh 100,000 - 110,000 would afford such a house.
Did Uhuru consider all market factors and realities that have put houses beyond the reach of many Kenyans? NO, he hasn't.

4/6
Uhuru should have systematically addressed supply-side/demand-side constraints to home ownership. Be more keen on job creation and economic empowerment,stabilise the market to enable many to acquire houses within their means, not force a tax or levy on already burden people.

5/6
Uhuru should register those in need of houses, pegged at 500,000 and provide them with an easier scheme to contribute towards purchasing the houses instead of levying everybody (millions) for 500,000 houses. Some are serving home loans and mortgages, why levy them again?? 🤔

6/6
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