Long-term finance allows for the provision of affordable and adequate housing which is a major thrust of Kenya’s Vision 2030. Indeed, in line with the objective of this forum, one of the flagship projects under the “Housing and urbanization” as stipulated in the Vision 2030 is “Mortgage Financing Initiatives”.
At an estimated annual demand of about 150,000 housing unit, the supply is barely at 35,000 leaving a gap of 115,000. The sector thus portends enormous opportunity and a major market; appropriate and innovative financing mechanisms are therefore absolutely essential.