Afternoon business highlights – April 16, 2018

Afternoon business highlights – April 16, 2018

Government to break ground on construction of 30,000 low-cost houses

The Government is set to launch a low-cost housing project that will see 30,000 houses constructed in Nairobi’s Eastlands area, as the ‘Big Four’ agenda takes shape. The low-cost project targets to put up 5,000 houses in Shauri Moyo, 20,000 houses in Makongeni, 3,000 houses in Starehe and 2,000 units in Park Road estates.

Construction of the Shauri Moyo, Makongeni and Starehe houses will kick off within six months while the breaking ground for the 2,000 units of affordable housing on Park Road will be within three months. Speaking today during a press briefing at State House, Nairobi, State House Spokesperson Manoah Esipisu, said the team leading the regeneration of Nairobi has given itself a timeline of six months to undertake the project.

Nairobi Cabinet Secretaries to resign if targets not met

The team leading the regeneration of Nairobi today committed to ambitious timelines for the delivery of key services, ranging from garbage collection to launching a mortgage refinance company. The regeneration team comprising the national and county leaders and co-chaired by Governor Mike Sonko and Tourism CS Najib Balala met President Uhuru Kenyatta to agree on their commitments.

Importantly, officials leading on specific delivery programmes from both the national and county governments committed to resigning if targets were not met.

Water bills to rise if government adopts new inflation charge

A proposed pricing formula by the Water Services Regulatory Board (WASREB) pegged on inflation may see water tariffs increased annually every July.

The Board published the proposed formula in the latest Kenya Gazette that will see the utility cost rise every year in line with annual inflation. WASREB chief executive Robert Gakubia said that the annual review that is tied to inflation is meant to guard against the steep water price increases occasioned by the prolonged review of tariffs.

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