Kenya and UN Sign an Agreement on Affordable Housing

By Vera Shawiza / September 27, 2018 | 10:04 am



Homeownership CAHIP

Kenya is set to benefit from a deal signed between the government of Kenya and the United Nations Office for Project Services (UNOPS) to deliver a total of 100,000 affordable housing units.

The affordable housing agreement between Kenya and UNOPS is part of the UN agency’s Social Impact Investment Initiative (S3i), a programme that underlines UN’s commitment to fostering innovative financing for the Sustainable Development Goals (SDGs).

When fully implemented, the agreement will boost Kenya’s efforts towards the realization of the ambitious affordable housing agenda as outlined in the Government’s Big 4 development blueprint by injecting 100,000 units into the market.

The signing of the deal took place on the sidelines of the ongoing 73rd United Nations General Assembly in New York.

The total estimated investments for the program of delivering affordable housing is approximately USD 13 billion.

President Kenyatta, who witnessed the signing of the deal said that his government was ready to deliver on the housing commitment without putting undue pressure on the exchequer.

“We are therefore focusing on financing and investment frameworks that will unlock private sector financing for this program,” said the President.

President Kenyatta further noted that the government was making a simultaneous investment in the housing supply chain, specifically in the manufacturing of inputs into the housing developments.

“We are embracing commercial arrangements that will incentivize the manufacturing sector to invest adequately to meet the imminent demands of the housing sector,” he added.

The Head of State expressed strong support for UNOPS’ involvement in achieving the ‘Big 4’ agenda and welcomed any other future initiatives aimed at addressing Kenya’s housing needs.

On her part, UNOPS Executive Director Grete Faremo applauded the agreement noting that the initiative was part of efforts to ensure that people get the opportunity to live comfortably in order to contribute to the country’s economic growth easily.

“Ensuring that people have an adequate and sanitary place to call home is a prerequisite for providing social and economic opportunities, and stimulating economic growth and development. That’s why UNOPS has made affordable housing a core focus of its Social Impact Investment Initiative. We are proud to be working with the Government of Kenya to facilitate new kinds of investment in Kenya’s affordable housing sector and to help make its housing priorities a reality,” said Ms. Faremo.

UNOPS Social Impact Investment Initiative seeks to de-risk infrastructure investment projects that will help to attract financing from the private sector.

Under the Affordable Housing Program, the Government of Kenya aims to provide half a million adequate, decent and affordable houses for its citizens by 2022.





About Vera Shawiza

Vera Shawiza is Soko Directory’s in-house journalist. Her zealous nature ensures that sufficient and relevant content is generated for the Soko Directory website and sourcing information from clients is easy as smooth sailing.Vera can be reached at: (020) 528 0222 or Email: info@sokodirectory.com

View other posts by Vera Shawiza


More Articles From This Author







Trending Stories










Other Related Articles










SOKO DIRECTORY & FINANCIAL GUIDE



ARCHIVES

2020
  • January 2020 (272)
  • February 2020 (310)
  • March 2020 (390)
  • April 2020 (321)
  • May 2020 (335)
  • June 2020 (327)
  • July 2020 (334)
  • August 2020 (276)
  • September 2020 (180)
  • 2019
  • January 2019 (253)
  • February 2019 (216)
  • March 2019 (285)
  • April 2019 (254)
  • May 2019 (272)
  • June 2019 (251)
  • July 2019 (338)
  • August 2019 (293)
  • September 2019 (306)
  • October 2019 (313)
  • November 2019 (362)
  • December 2019 (319)
  • 2018
  • January 2018 (291)
  • February 2018 (213)
  • March 2018 (278)
  • April 2018 (225)
  • May 2018 (238)
  • June 2018 (178)
  • July 2018 (256)
  • August 2018 (249)
  • September 2018 (256)
  • October 2018 (287)
  • November 2018 (284)
  • December 2018 (185)
  • 2017
  • January 2017 (183)
  • February 2017 (194)
  • March 2017 (207)
  • April 2017 (104)
  • May 2017 (169)
  • June 2017 (205)
  • July 2017 (190)
  • August 2017 (195)
  • September 2017 (186)
  • October 2017 (235)
  • November 2017 (253)
  • December 2017 (266)
  • 2016
  • January 2016 (165)
  • February 2016 (165)
  • March 2016 (190)
  • April 2016 (143)
  • May 2016 (245)
  • June 2016 (182)
  • July 2016 (271)
  • August 2016 (248)
  • September 2016 (234)
  • October 2016 (191)
  • November 2016 (243)
  • December 2016 (153)
  • 2015
  • January 2015 (1)
  • February 2015 (4)
  • March 2015 (166)
  • April 2015 (108)
  • May 2015 (116)
  • June 2015 (120)
  • July 2015 (148)
  • August 2015 (157)
  • September 2015 (188)
  • October 2015 (169)
  • November 2015 (173)
  • December 2015 (207)
  • 2014
  • March 2014 (2)
  • 2013
  • March 2013 (10)
  • June 2013 (1)
  • 2012
  • March 2012 (7)
  • April 2012 (15)
  • May 2012 (1)
  • July 2012 (1)
  • August 2012 (4)
  • October 2012 (2)
  • November 2012 (2)
  • December 2012 (1)
  • 2011
    2010
    2009
    2008
    2007
    2006
    2005
    2004
    2003
    2002
    2001
    2000
    1999
    1998
    1997
    1996
    1995
    1994
    1993
    1992
    1991
    1990
    1989
    1988
    1987
    1986
    1985
    1984
    1983
    1982
    1981
    1980
    1979
    1978
    1977
    1976
    1975
    1974
    1973
    1972
    1971
    1970
    1969
    1968
    1967
    1966
    1965
    1964
    1963
    1962
    1961
    1960
    1959
    1958
    1957
    1956
    1955
    1954
    1953
    1952
    1951
    1950