Kenya Finance Bill 2023

Kenya Finance Bill 2023

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Summary

In Kenya's Finance Bill 2023 which was released in May 2023, a 3% monthly basic salary contribution towards the National Housing Development Fund (NHDF) was proposed as a way to fund Kenya’s affordable housing initiative. As per the bill, 3.0% of the contribution will be made by the employer while another 3.0% will be incurred by the employee. Notably, this was later amended into a housing levy, with the rate reduced to 1.5% each from both the employee and employer.

Source: Parliament of Kenya

Published: 2023

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