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{
    "id": 825273,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/825273/?format=api",
    "text_counter": 477,
    "type": "speech",
    "speaker_name": "Kipkelion East, JP",
    "speaker_title": "Hon. Joseph Limo",
    "speaker": {
        "id": 1915,
        "legal_name": "Joseph Kirui Limo",
        "slug": "joseph-kirui-limo"
    },
    "content": "The Bill, aware that the Government is putting in place procedures and systems to ensure that there will be affordable housing in the country, proposes to introduce the housing mortgage business which will encourage and will be linked to the proposed National Housing Fund. To tackle that, there is a proposal to introduce the National Housing Development Fund. The Fund is equivalent to what has been done in other countries. Some of the countries that have been successful are South Africa and Singapore. This proposal elicited a lot of controversy. People asked many questions concerning how they will contribute to the Housing Fund and what the procedure of getting an allocation out of the Fund will be. Kenyans are fearful and have a history of mismanagement of funds. In the course of deliberations, we had a lot of engagement with various Government agencies including the Principal Secretary of Housing Department who is an expert in this area. He has worked outside the country and has a lot of knowledge. To clear the air on the Housing Fund, any contribution by any member of the public to the Housing Fund will not be lost. The money will be kept in an account of that individual and upon retirement, if the member has not benefitted by being allocated a House, the member will get a refund plus a return on the contribution he has made. So, a procedure will be put in place and with the use of IT system, allocation will be done randomly and whoever who will benefit will not again benefit a second time."
}