Absa Bank Kenya has allocated Ksh.4 billion towards affordable housing loans, a Ksh.1 billion additional investment through the Kenya Mortgage Refinance Company (KMRC).
The earlier portfolio had been primed at Ksh.3 billion, and loan uptakers for the housing units will be financed for the rate of up to 105%.
“If we are truly to unlock Kenya’s housing potential, we must collectively address the barriers — from land availability and infrastructure costs to regulatory complexity and access to finance,” said Zaharaa Khanbhai, Absa Bank’s Commercial Property Finance Director for East Africa.
“Absa is committed to being part of the solution, not just as a financier, but also as a thought partner, advocate, and enabler of change.”
She spoke at the inaugural International Housing Solutions (IHS) Affordable Housing Conference in Nairobi – Emara Ole Sereni Hotel.
Also Read: Absa Bank Kenya Net Profit up 4% to Ksh.6.2 Billion in Q1 2025
Kenya faces a housing deficit exceeding 2 million units, with demand growing by more than 200,000 homes annually.
Similar patterns are evident across East Africa, driven by rapid urbanization, population growth, and economic inequalities. The affordable housing gap remains one of the region’s most urgent socio-economic challenges.
The IHS conference — the first of its kind in Kenya — brought together leading stakeholders from the housing, finance, and policy sectors across the continent.
Discussions focused on how innovation, sustainable financing, and inclusive development can help bridge the affordable housing divide.
President William Ruto’s administration has laid critical groundwork through its Affordable Housing Program, including enabling policy frameworks that invite increased private sector participation.
These efforts are now being matched by financial institutions like to develop scalable investment solutions for developers and end-users alike.
Absa Bank is leveraging the broader capabilities of Absa Group to offer financial tools that support a wide range of infrastructure developments — including commercial, retail, hospitality, and green housing projects.
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