Saving and Credit Co-operative Societies (SACCOs) are expected to play a significant role in ensuring Kenyans’ have access to affordable housing financing.
Over 10 SACCOs have partnered with the Kenya Mortgage Refinance Company (KMRC) to provide a low-cost mortgages to members.
KMRC recently hosted stakeholders in affordable housing to enhance awareness of the Affordable Housing Program and investment opportunities in the sector.
The Kenya Affordable Housing Conference was convened in partnership with the National Treasury and Economic Planning and the World Bank Group and held at the Kenyatta International Convention Centre under the theme: Unleashing Affordable Housing Potential to Drive Economic Growth.
“The most practical way to deliver housing solutions is to embed sustainability and inclusivity in the process. This can only be achieved through partnerships and collaboration with all stakeholders including national and county governments, the private sector, housing cooperatives, landowners, and financiers, among other key value chain actors,” said KMRC CEO Johnstone Oltetia.
It targeted sector regulators, and investors – pension funds, insurance companies, SACCOs, commercial banks, consumers, development partners, Government MDAs and County Governments. Others are financiers, consultancy firms, policymakers, research institutions and professional associations in the built environment.
Two months ago President William Ruto detailed the Government’s plan to deliver 250,000 affordable housing units annually. The President, while launching housing units in Ongata Rongai said that his administration is keen on collaborating with the private sector and county governments on developing affordable houses.
