StalledDaily Nation reports that the dream started small as every member was given a motorcycle during the initial years of the project. Through Kitemoto Housing Society founded in 2010, the group secured a KSh 4.7 million loan from the National Cooperative Housing Union (Nachu) to construct the 100 three-bedroom houses. The project now resembles a ghost town with most houses standing forlorn, like an area reeling from the aftereffects of war. The project started running into ruins as 30% of the members defaulted on the KSh 7,600 monthly loan instalments that were to run for seven years. From an initial value of KSh 4.5 million per unit, the structures have since depreciated to about KSh 3.6 million, with efforts to sell them being futile.

Source: Daily Nation July 28, 2021 06:33 UTC