NAIROBI – Kenya’s Affordable Housing Programme continues to record steady growth, with contributors converting more than Sh1.76 billion in savings into home purchases, even as the Affordable Housing Board (AHB) and the National Housing Corporation (NHC) moved to clarify misconceptions surrounding Sh2.56 billion recorded as “refunds” on the Boma Yangu platform.
The clarification follows public debate after figures showing Sh2,561,880,766 in refunds as of June 30, 2026 were interpreted by some as evidence that contributors were withdrawing their savings and abandoning the government’s flagship housing initiative.
In a joint statement issued on Thursday, the two agencies explained that the figure has been widely misunderstood because the Boma Yangu platform uses the term “refund”as an internal accounting label for any money leaving a contributor’s savings wallet. This includes both cash withdrawals and transfers into deposit wallets for the purchase of affordable housing units.
“What is disputed is the common assumption that the entire amount represents savers withdrawing cash and exiting the programme. On Boma Yangu, ‘refund’ is an internal accounting label applied to any outward movement of funds from a saver’s savings wallet, whether that movement is a cash withdrawal or a transfer into a deposit wallet toward an actual home purchase,” the statement said.
According to AHB and NHC, Sh1.62 billion, representing 63.2 per cent of the reported amount, was transferred to the National Housing Corporation as buyers’ deposits for the Park Road Housing Project.
Another Sh139.7 million was used as deposits for homes in other affordable housing developments, bringing the total amount converted into home ownership to Sh1.76 billion, equivalent to 68.6 per cent of the amount recorded as refunds.
The agencies said only Sh803.3 million, or 31.4 per cent, represented actual cash withdrawals by voluntary savers.
“Section 52(4)(a) of the Affordable Housing Act, 2024 guarantees every voluntary saver the right to withdraw their savings on ninety days’ notice,” the statement added.
NHC said the Sh1.62 billion transferred to the corporation formed part of payments made by 1,370 beneficiaries who purchased homes under the Park Road Housing Project, either through outright purchase or the Tenant Purchase Scheme, through which about 300 housing units have already been acquired.
The agencies also highlighted continued growth in the programme, noting that cumulative savings on the Boma Yangu platform have more than doubled from Sh2.47 billion in May 2025 to Sh5.47 billion, while the number of registered users has increased from1.02 million to 1.26 million.
During the same period, actual cash withdrawals rose only marginally from Sh788.2 million to Sh803.3 million, indicating that most contributors are either maintaining their savings or progressing towards home ownership.
The agencies further disclosed that nearly 300,000 affordable housing units are currently under construction across the country, reaffirming their commitment to transparency and accountability in the management of contributors’ funds as the government continues implementing its affordable housing agenda.
