- Auditor-General can’t trace Sh19.6bn World Bank housing funds
- Money was sent to KMRC, but records were restricted
- MPs alarmed over transparency in affordable housing plan
- Pressure grows for answers and full disclosure
Kenya’s Auditor-General Nancy Gathungu has raised a serious red flag over nearly Sh20 billion meant for affordable housing, saying she cannot account for how the money was used.
Appearing before MPs, Gathungu revealed that Sh19.6 billion borrowed from the World Bank and channelled to the Kenya Mortgage Refinance Company could not be properly verified due to limited access to critical records.
According to her, the lack of documentation makes it impossible to confirm whether the funds were spent as intended.
The revelation has reignited concerns around transparency in President William Ruto’s flagship Affordable Housing Programme, which relies heavily on public funds and external borrowing to deliver low-cost homes.
Gathungu told lawmakers that her office was blocked from accessing some key financial details, a situation she described as unacceptable given the size of the loan and its importance to ordinary Kenyans. Without full access, she said, auditors cannot guarantee value for money or rule out misuse.
The disclosure has sparked unease in Parliament, with MPs warning that unaccounted-for housing funds could undermine public trust in the programme.
Some legislators are now calling for deeper scrutiny of KMRC’s operations and stronger oversight on how housing-related loans are managed.
Government officials, on the other hand, maintain that the funds were properly utilised, even as pressure mounts for clearer explanations and the release of all supporting documents.
As questions continue to pile up, Kenyans are once again left wondering whether ambitious housing promises are being matched with accountability behind the scenes.
