Kenya's Cabinet approved new housing rules that make homes easier to buy for regular families. The government cut the required down payment from 10 percent to 5 percent of the home price. Officials want more people to afford houses under President William Ruto's economic plan. The new rules help people with different income levels find homes across all 47 counties. Banks must offer loans with lower interest rates and smaller monthly payments.
The housing program gives help to people who cannot make upfront payments. Counties must follow specific guidelines when building affordable homes for residents. The rules cover how to design and maintain housing projects after completion. Developers and buyers can access long-term financing through government programs. Essential services must be provided to all completed housing developments.
Cabinet members also approved changes to government buying and selling rules. The new law requires all government purchases to happen through electronic systems. Electronic buying helps prevent corruption and makes the process more transparent. Small and medium businesses will have better chances to win government contracts. The changes give special support to women, young people and disabled persons.
The procurement reforms update a 2015 law with nearly 10 years of experience. Local contractors will receive more opportunities to work on government projects. The amendments encourage domestic production and support Kenyan businesses. Government agencies must meet specific targets for hiring local suppliers. These changes align Kenya's procurement system with international standards.
The housing program gives help to people who cannot make upfront payments. Counties must follow specific guidelines when building affordable homes for residents. The rules cover how to design and maintain housing projects after completion. Developers and buyers can access long-term financing through government programs. Essential services must be provided to all completed housing developments.
Cabinet members also approved changes to government buying and selling rules. The new law requires all government purchases to happen through electronic systems. Electronic buying helps prevent corruption and makes the process more transparent. Small and medium businesses will have better chances to win government contracts. The changes give special support to women, young people and disabled persons.
The procurement reforms update a 2015 law with nearly 10 years of experience. Local contractors will receive more opportunities to work on government projects. The amendments encourage domestic production and support Kenyan businesses. Government agencies must meet specific targets for hiring local suppliers. These changes align Kenya's procurement system with international standards.
