Housing Principal Secretary Charles Hinga explained to NTV Kenya that the levy needs backing from international partners like the World Bank and private investors to hit the target.
The plan uses levy funds as a guarantee to attract larger investments, alongside options like Sukuk bonds and Real Estate Investment Trusts.
Kenyans online have mixed views—some call it the 'joke of the year' for seeking loans despite steady collections, while others note overlooked revenue from unit sales and suggest securitizing the levy for quick cash.