Kenyans Pull Sh2.56 Billion From Boma Yangu Housing Savings

Refunds to contributors under the Boma Yangu Affordable Housing Programme reached Sh2.56 billion by the end of June, close to half of the Sh5.47 billion mobilised through the platform since it launched. The figures come from new data released by the State Department for Housing.

Boma Yangu is a digital platform through which prospective buyers register and save at least five percent of a home's value before they can be allocated a unit. Refunds have grown sharply over the past year, rising from Sh788 million in May 2025 to more than triple that figure by June 2026.

A special audit covering July 2020 to May 2025 confirmed the trend, showing refunds to prospective buyers had risen three-and-a-half times over that period. About 30 percent of the 1.26 million registered users are actively saving toward a unit.

The State Department for Housing said contributors who withdraw receive both their original savings and any accrued investment income, arguing that rising contributions alongside rising withdrawals show the exit option is genuine rather than symbolic.

Beyond levy collections, the programme also draws on proceeds from house sales and voluntary savings made directly through the Boma Yangu platform. The Auditor-General reported that contributors' funds were invested in Treasury bills, generating Sh345.7 million in investment income by May 2025, with 79 percent of that income earned during the three years to May 2025.

The withdrawal option was formalised earlier this year after Housing Principal Secretary Charles Hinga appeared before the National Assembly's Departmental Committee on Housing, Urban Planning and Public Works in Mombasa on March 26. MPs had sought clarity on how contributors' funds were being protected.

Hinga told the committee the state was developing a withdrawal system with Safaricom to let contributors access their money if they chose to opt out. "What you are saving towards house ownership is your money," he said, according to earlier reporting on the announcement.

Contributors wishing to withdraw can log into the Boma Yangu portal using their registered identification number and password, then select the refund option from their dashboard. Applicants who are not allocated a unit in a given project cycle can either wait for the next cycle or request a refund of their accumulated savings.