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Afrique partners with Rafiki to extend credit facilities to low end earners who desire to own homes

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Published on Feb 17, 2014

Out of an approximated population 40 million Kenyans, there are only 20 thousand mortgage accounts, a figure that reflects on the need to meet the housing demands. This has seen shelter afrique and rafiki microfinance bank launch a partnership that will extend credit facilities to low end earners who desire to own decent homes. Rafiki has committed some 700 million shillings into funding of the partnership and will disburse loans of between 20 thousand and 5 million shillings for home improvement and new constructions. On the other hand, shelter afrique has availed a loan facility estimated at 100 million to be reviewed on demand. The partners expressed interest to explore housing opportunities in the counties and pointed out infrastructure as key towards this development.
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