Housing levy cash to hit Sh89 billion in next four years
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Nairobi, Sept. 20 -- Contributions under the Housing Development Levy are expected to soar by 40.8 percent to hit Sh89 billion in the 2026/27 financial year, up from Sh63.2 billion in the current fiscal cycle.
Estimates from the draft Budget Review and Outlook Paper (Brop) show the contributions will stand at Sh70 billion in the 2024/25 fiscal year and Sh78 billion in financial year 2025/26.
The expected growth has partly been attributed to anticipated general wage growth for salaried employees over the four years along with growth in the number of persons in wage employment.
"From a general perspective, it's reasonable to expect that there will be growth in the figure as a result of an increase in the wages of all salaried employees a...
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