Left Menu
Development News Edition

Kenya requires Sh5 trillion to accomplish ‘BIG 4’ affordable housing agenda

Devdiscourse News Desk | Nairobi | Updated: 13-08-2019 17:10 IST | Created: 13-08-2019 17:10 IST
Kenya requires Sh5 trillion to accomplish ‘BIG 4’ affordable housing agenda
Under President Uhuru Kenyatta’s BIG 4 Agenda, Kenya plans to construct 500,000 affordable houses by the end of 2022. Image Credit: Pixabay

Kenya has the requirement to achieve affordable housing agenda and the country needs at least Sh5 trillion in addressing the issue. The plan is based on the Pan African Organization, Shelter Afrique, which exclusively deals with affordable housing in Africa. According to Shelter Afrique, Kenya needs focused political leadership to achieve the goal even as it works to make affordable housing a reality under the Big 4 agenda.

"We are encouraged by the efforts the Government of Kenya through the inclusion of Affordable Housing as a key priority in implementing the BIG 4 Agenda on the supply side, and the establishment of the Kenya Mortgage Refinancing Company to improve access to mortgage lending on the demand side," Andrew Chimphondah, the Managing Director of Shelter Afrique said.

Under President Uhuru Kenyatta's BIG 4 Agenda, Kenya plans to construct 500,000 affordable houses by the end of 2022. In January, some reports claimed that the Kenyan contractors have shied from the affordable housing sector due to a number of challenges." Chinese contractors bring a lot in terms of a large scale of production through the deployment of technology which mechanizes construction which can be used to roll out affordable houses targeted at the low-income segment of the population," Nairobi-headquartered Cytonn Investments' senior manager Johnson Denge said earlier during the release of Annual Market Outlook 2019.

Kenya had already outshined funding the housing agenda after it got investment offers of around Sh5 trillion, which was way above set target of Sh2 trillion. "Investors are upbeat about this project. We received an investment offer of USD 22 billion in the first round and a third of the amount in the second round from across the world," Principal Secretary, Housing Urban Development Charles Hinga said.

The affordable housing project is likely to deliver one million housing units in the next five years to plunge the gap estimated at between 1.8 million and 2 million units. According to Capital FM, altogether 800,000 houses are expected to be built under the public-private partnership model, while 200,000 will be put up under the social scheme.

Also Read: No. of cancer patients increasing in Kenya, Aflatoxin found in contaminated food


TRENDING

OPINION / BLOG / INTERVIEW

5G will be the key driving force for COVID-19 recovery: Here's how?

... ...

Canada’s COVID-19 pitfalls highlight need for integrated health information system

In the globalized world of today where outbreaks can spread far and wide within a matter of days, a global-level integrated health information system is ideal but Canadas provincial barriers show that the country lags much behind in deployi...

Pandemic must be impetus, not obstacle, for clean water access

To make matters worse, there are suspicions that the inadequacy of wastewater treatment methods in California, the rest of the USA, and indeed around the world may help to propagate the disease even more widely. ...

3D printing and the future of manufacturing post COVID-19

The on-demand, customizable, and localized manufacturing of product components facilitated by 3D printing has the potential to redefine manufacturing but there are certain technical, mechanical, and legal limitations that, unless ...

Videos

Latest News

Reports: Reds player tests positive; Saturday game uncertain

A Cincinnati Reds player reportedly tested positive for COVID-19, leaving the status of the teams Saturday home game against the Pittsburgh Pirates uncertain. The Athletics Ken Rosenthal first reported the news of the positive test late Fri...

UN Security Council rejects US proposal to extend arms embargo on Iran

The UN Security Council has overwhelmingly rejected a US resolution to indefinitely extend an arms embargo on Iran, prompting an angry Trump Administration to threaten that it could initiate a snapback to reimpose all UN sanctions on Tehran...

74th Independence Day: Priyanka Chopra remembers 'strong and fearless' women who made history

Actor Priyanka Chopra on Saturday addressed and paid her respects to all those fearless women in history who have played their own unique role during the struggle for the countrys independence. As the nation celebrates its 74th Independence...

A's rally in 9th, stun Giants in 10

Mark Canha hit a go-ahead sacrifice fly in the top of the 10th, and Liam Hendriks struck out the side in the bottom of the inning Friday night as the Oakland Athletics rallied from five runs down in the ninth to stun the host San Francisco ...

Give Feedback