Absa Bank Kenya has pledged Ksh. 4 billion ($31 million) to support affordable housing initiatives in Kenya, up from its previous Ksh. 3 billion ($23.2 million) investment, through its partnership with the Kenya Mortgage Refinance Company (KMRC).
The announcement was made by Zaharaa Khanbhai, Absa Bank’s Commercial Property Finance East Africa Director, during the inaugural International Housing Solutions (IHS) Affordable Housing Conference held in Nairobi.
Khanbhai emphasized the bank’s pivotal role in bridging Kenya’s housing finance gap, which faces a deficit of over 2 million units and an annual demand for more than 200,000 homes. “To unlock Kenya’s housing potential, we must tackle barriers like land availability, infrastructure costs, regulatory complexity, and access to finance,” she said. “Absa is committed to being a thought partner, advocate, and enabler of change, not just a financier.”
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The conference convened Africa’s top housing, finance, and policy experts to discuss innovation, sustainable finance, and inclusive development to address Kenya’s housing challenges. Khanbhai highlighted the Kenyan government’s Affordable Housing Program, which has created a robust policy framework to attract private-sector investment and scalable solutions.
As part of Absa Group’s pan-African strategy, the bank is deploying sophisticated financial solutions for developers and investors across commercial, retail, hospitality, and green infrastructure projects. This aligns with Absa’s focus on smart, sustainable, and affordable development, reinforcing its role as a leader in East Africa’s housing sector.
