Housing sector in Kenya is set to become a key to post corona economic recovery plans. This is according to the president Uhuru Kenyatta, who said that while it is one of the sectors that has been impacted adversely by the economic slowdown, it has a potential to rebound quickly.
“Economic history teaches us that the construction sector, including housing construction, has been very effective in driving economic recovery. The affordable housing agenda should remain front and center in the economic recovery debate due to the need to provide decent housing and essential infrastructure to all residents, especially the vulnerable populations living in slums and informal settlements,” said Uhuru Kenyatta.
Affordable housing
Shelter Afrique’s CEO Andrew Chimphondah pointed out that large scale housing delivered by Private-Public-Partnerships (PPPs) is a vital way to inject much-needed capital into the economy.
“Since the beginning of the crisis, we have advocated that the construction of large-scale housing and related infrastructure can be the driver for economic revival post corona,” Chimphondah said.
As a support to the president’s plans, the pan African housing development financier has also launched an internship programme designed to empower attract young and talented multi-disciplinary individuals from Shelter Afrique member countries. The World Bank in addition extended a Sh 22m grant to support Shelter Afrique’s capital market program.
Kenya’s Affordable Housing Programme (AHP) was launched in December 2017 as one of the national government’s four pillars of growth, in the President’s Big Four Plan. The project is projected to deliver 500,000 affordable homes over a five year period, and involves a number of incentives and supports to enable the delivery of affordable housing in Kenya.
