President William Ruto says that the Affordable Housing programme by the government has created over 120,000 job opportunities.

Speaking during Jamhuri Day celebrations for 2023, Ruto termed the programme as the government’s main jobs creator.

“We appreciate that unemployment is a serious crisis facing our youth. On that account, the Government has installed systematic, ambitious, progressive and intentional interventions in employment creation. Our Housing Programme, for instance, is our main job creator; generating more than 120,000 opportunities,” Ruto said.

“That is not all. We are rolling out training and digital job opportunities in all our TVETS. Already, 23,000 computers have been distributed with many students now monetising their skills online. The establishment and expansion of ICT hubs will enhance our digital jobs’ footprints, creating more jobs in the digital space.”

Ruto says the programme has also provided indirect opportunities for the formal and informal manufacturing of materials, fixtures, fittings and accessories required in the construction.

“The housing program is a bottom-up job creator. There are 33 active housing development sites already employing 120,000 people in various parts of the country. Another 31 sites are undergoing evaluation to begin construction next month. Other sites are in various stages of design and by mid next year the entire country will be a bustling construction sites with housing projects proceeding in every county. Our strategic focus is to construct thousands of housing units while creating millions of jobs. South Korea, Singapore and Malaysia undertook these major housing works some 40 years ago, and that’s why their economies are ahead of ours,” he added.

Ruto on Hustler Fund

Ruto also hailed the Hustler Fund, under which he says borrowers have saved Ksh2 billion with a repayment rate of 75 per cent nationally.

“As promised, we have already enhanced credit limits for over 1.2 million borrowers and spent Ksh500 million to match long-term savings on a ratio of Ksh1 for every Ksh2 saved. At the end of this month, every saver will be paid an attractive interest rate of 12 per cent on their savings,” Ruto added.

He says over 7.7 million are regular borrowers on the Hustler Fund platform. He promised that the fund would be enhanced from next month with specific financial products to provide additional enterprise and business facilities for existing mama mboga and boda boda saccos.