FILE PHOTO | NMG
Civil servants are set to miss out on home loans, dealing yet another blow to the State’s affordable housing drive as proposed regulations seek to lock out most beneficiaries.
For the second year in a row, the Treasury has failed to allocate cash to the State Department for Housing for disbursement of loans under the Civil Servants Housing Scheme.
When he launched 1,370 low-cost houses for civil servants in February, Housing PS Charles Hinga said the ministry expected to net Sh5 billion from the sale of the units.
Last year, the Civil Servants Housing Scheme Fund facilitated 989 civil servants with mortgage loans for construction and purchase worth Sh4.474 billion through the KCB Group #ticker:KCB and Housing Finance (HF) Group #ticker:HFCK as at June 30, 2018.
The ministry said out of the houses developed through the Civil Servants Housing Scheme Fund, a total of 411 housing units were reserved for rental to civil servants.
