There is significant demand from women in Kenya for housing finance, with estimates placing the demand at $14.8 billion. But, like in many countries, women’s access to finance is limited by low and informal incomes, as well as inability to meet bank requirements. And not only is access to finance limited, but so are available housing units, as Kenya has an estimated housing deficit of over two million units.
In an attempt to remedy the barriers to housing finance that women and low-income populations face, the Kenyan government launched the Kenya Mortgage Refinance Company (KMRC) in 2019. KMRC’s goal is to provide long-term, low-cost loans to primary mortgage lenders, fulfilling part of the government’s promises of affordable housing. KMRC, combined with a government commitment to build 500,000 new affordable units by 2022, aims to close the gender gap between men and women’s access to housing and housing finance.
Source:
International Finance Corporation. (2020) Her Home – Housing Finance for Women. International Finance Corporation.
Link: https://www.ifc.org/en/insights-reports/2020/her-home-housing-finance-for-women