Your Read is on the Way
Every Story Matters
Every Story Matters
The Hydropower Boom in Africa: A Green Energy Revolution Africa is tapping into its immense hydropower potential, ushering in an era of renewable energy. With monumental projects like Ethiopia’s Grand Ethiopian Renaissance Dam (GERD) and the Inga Dams in the Democratic Republic of Congo, the continent is gearing up to address its energy demands sustainably while driving economic growth.
Northern Kenya is a region rich in resources, cultural diversity, and strategic trade potential, yet it remains underutilized in the national development agenda.
Can AI Help cure HIV AIDS in 2025
Why Ruiru is Almost Dominating Thika in 2025
Mathare Exposed! Discover Mathare-Nairobi through an immersive ground and aerial Tour- HD
Bullet Bras Evolution || Where did Bullet Bras go to?
Absa Bank Kenya has earmarked Ksh.4 billion for onward lending to support the development and uptake of affordable housing in the country. This initiative comes amid growing demand for housing and a significant supply shortfall, and it is expected to play a crucial role in bridging Kenya’s housing gap.
Kenya currently faces an estimated annual demand of 250,000 new housing units, yet supplies only a fraction of that. This mismatch has led to a growing national housing deficit that now exceeds two million units. The shortage is driven by rapid urbanisation, population growth, and widening economic disparities.
Absa Bank’s initiative aims to directly support this under-served market by improving access to financing for both individual home buyers and housing developers.
Speaking at the International Housing Solutions (IHS) Affordable Housing Conference in Nairobi, Zaharaa Khanbhai, Commercial Property Finance Director at Absa Group, underlined the importance of a collaborative approach to solving the housing challenge.
“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 Khanbhai.
She noted that Absa Bank’s role extends beyond offering funds. “We are committed to being part of the solution, not just a financier, but as a thought partner, advocate, and enabler of change.”
Industry stakeholders welcomed the bank’s commitment as both timely and necessary. Superior Homes CEO Shiv Arora commended Absa and other financiers for playing a pivotal role in supporting the mortgage market and easing the journey to homeownership for many Kenyans.
With institutional investors and financial institutions stepping up, the private sector is increasingly being seen as a critical player in expanding access to affordable housing.
The Government of Kenya has recently accelerated efforts through its Affordable Housing Program, which lays down enabling policy frameworks to attract private investment in the sector. This has opened new avenues for partnerships between government and private lenders like Absa Bank.
The IHS conference—the first of its kind held in Kenya—brought together key figures in housing, finance, and public policy to explore scalable solutions for housing affordability and sustainability.
As part of its wider regional strategy, Absa Bank Kenya is leveraging the capabilities of the Absa Group to offer larger, more sophisticated financing solutions. These span retail, commercial, hospitality, and green infrastructure developments, all aimed at promoting smart and sustainable urban growth.
Through the Ksh.4 billion allocation, Absa positions itself not just as a lender, but as a strategic enabler in the transformation of Kenya’s housing sector.
0 comments