President William Ruto has signed into law the Affordable Housing Bill 2023 paving the way for the reinstatement of housing levy deductions from this month.
This means that employees will be deducted 1.5 percent of their gross monthly pay, the amount that will be matched with their employer.
Under the new law, Kenyans in the informal sector and others not salaried will pay 1.5 percent of their monthly gross earnings to fund Kenya Kwanza government’s housing projects.
The new legislation ropes in workers in the informal sector to be in agreement with the High Court ruling that rendered it unconstitutional last year. – Business Daily
