Absa Bank Kenya has partnered with International Housing Solutions (IHS) Kenya as the title sponsor of the second IHS Kenya Affordable Housing Conference, signaling renewed efforts to unlock financing and investment needed to address the country’s growing housing shortage.
The conference, scheduled for Thursday, will bring together developers, financiers, policymakers and investors to explore solutions to challenges slowing affordable housing delivery and identify opportunities to scale homeownership across Kenya.
The partnership comes at a time when Kenya is grappling with a housing deficit estimated at more than 2 million units. Demand for housing continues to rise by between 200,000 and 250,000 units annually, while supply remains below 50,000 units, widening the gap and intensifying pressure on urban housing markets.
Absa Bank Kenya Managing Executive for Corporate and Investment Banking, James Agin, said addressing the housing challenge requires more than increasing construction activity, calling for stronger collaboration across financing, infrastructure development and urban planning.
“Affordable housing is central to economic inclusion, productivity and urban resilience. As cities grow, housing systems must evolve to support sustainable and inclusive development,” said Agin.
He noted that affordability challenges begin early in the development process, with developers facing high land acquisition costs, infrastructure requirements, financing constraints and lengthy project timelines. These challenges ultimately affect the cost of housing and limit access for prospective homeowners.
Through its Real Estate Finance business, Absa is supporting players across the housing value chain by improving project viability, strengthening links between developers and homebuyers, and enhancing mortgage readiness to enable buyers to access financing earlier.
The lender is also developing financing solutions tailored to African market realities, including products designed for individuals with informal or non-traditional income streams who are often excluded from conventional mortgage financing.
According to Agin, scaling affordable housing will depend on the ability of stakeholders to align capital, expertise and execution to deliver commercially viable projects that meet growing demand.
“Delivering affordable housing at scale will depend on how effectively we connect capital, expertise and execution across the ecosystem. Stronger collaboration will be critical to unlock commercially viable, inclusive solutions,” he said.
The conference forms part of broader efforts by Absa and IHS Kenya to stimulate investment, strengthen partnerships and promote innovation in Kenya’s housing sector, with the aim of creating more inclusive and resilient urban communities.