International Housing Solutions (IHS) Kenya and KCB Bank Kenya have announced a strategic partnership to accelerate the development of green affordable housing in the country.
The partnership, unveiled at IHS’s Tilisi Development PLC site in Limuru, Kiambu County, will see KCB provide debt financing to IHS for the construction of high-quality, affordable housing units, while also offering end-user financing to homebuyers.
IHS Kenya plans to deliver over 3,000 housing units valued at approximately Sh10 billion over the next five years.
Speaking at the signing ceremony, IHS Kenya Managing Director Kioi Wambaa said the collaboration will fast-track the delivery of housing units.
“This partnership reinforces our strategy of developing green, affordable housing across Kenya. Through climate-friendly housing investments, we aim to create jobs, enhance skills, and stimulate economic growth. With KCB’s financial support, we can accelerate projects and meet the rising demand for sustainable housing,” Wambaa stated.
Kenya faces a significant housing shortage, particularly for low- and middle-income earners.
The new units will be available to KCB Bank Kenya’s mortgage customers, easing access to homeownership for first-time buyers and existing homeowners.
KCB Bank Kenya Director of Mortgage Business Caroline Wanjeri emphasized the bank’s commitment to supporting homeownership.
“At KCB, we view homeownership as a key driver of economic and social progress. This partnership with IHS strengthens our mission to provide innovative and accessible financing solutions that enable more Kenyans to own homes,” she said.
KCB Bank Kenya, a key player in the government-backed Kenya Mortgage Refinancing Company (KMRC), continues to support the Affordable Housing Programme.
The initiative aims to deliver over 250,000 decent and affordable housing units, in line with Article 43 of the Constitution, which guarantees every Kenyan the right to accessible and adequate housing.
