Managing Executive, Corporate and Investment Banking
Absa Bank
During this year's budget reading, Treasury Cabinet Secretary Ukur Yatani announced a Sh27.2 billion allocation for planned new affordable housing units to serve middle and lower-income families in Kenya's urban centres, major towns, and cities.
This is in addition to the Sh37.3 billion allocated to the Affordable Housing Programme, whose mandate is the construction of new units as well as the facilitation of a mortgage-led housing plan through the Kenya Mortgages Refinance Company (KMRC), which is tasked with funding banks to offer 'capital' specifically to local lenders, who will in turn issue single-digit interest rate loans to first-time home buyers.
