Absa Commits KES 4 Billion to Boost Affordable Housing in Kenya

Absa Commits KES 4 Billion to Boost Affordable Housing in Kenya

Absa Bank Kenya has set aside KES 4 billion to support retail customers seeking affordable housing.

This marks an increase from last year’s KES 3 billion and strengthens the bank’s investment through the Kenya Mortgage Refinance Company (KMRC).

Speaking at the International Housing Solutions (IHS) Affordable Housing Conference in Nairobi, Zaharaa Khanbhai, Director of Commercial Property Finance at Absa Bank East Africa, emphasized the lender’s strategic role.

“If we are truly to unlock Kenya’s housing potential, we must collectively address barriers, from land availability and infrastructure cost to regulatory complexity and access to finance,” she said.

She added that Absa is committed to being more than a financier. The bank wants to act as a thought partner, advocate, and enabler of change.

Absa Commits KES 4 Billion to Boost Affordable Housing in Kenya

Responding to a Growing Demand

Kenya currently faces a housing deficit of more than 2 million units, with demand growing by over 200,000 homes each year. This mirrors trends across East Africa, where population growth and urbanization continue to widen the housing gap.

The Nairobi conference, the first of its kind in Kenya, brought together experts in housing, finance, and policy. The goal was to explore how innovation, inclusive development, and sustainable financing can help solve the housing crisis.

The Government of Kenya has already laid the groundwork with the Affordable Housing Program, offering an enabling policy environment. This creates room for the private sector to introduce scalable, impactful solutions.

As part of its pan-African strategy, Absa Bank is also drawing on the wider Absa Group’s capabilities.

The bank is offering sophisticated financial products for developers and investors across retail, hospitality, commercial, and green infrastructure.

These efforts align with the group’s commitment to smart, sustainable, and affordable growth.

https://africabusinessnews.co.ke/absa-bank-partners-with-visa-to-launch-business-credit-cards/