Malindi to host continental housing summit

Malindi to host continental housing summit

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The African Development Bank has endorsed Somalia’s donor-supported plan to settle its debts, owed to the lender./COURTESY

Malindi town in Kilifi county is set to host the Shelter Afrique annual general meeting which is a pan African platform for African countries to secure affordable housing programs.

In a media briefing in Nairobi, Housing principal secretary Charles Hinga and Shelter  Afrique CEO, Andrew Chimphodah said that the hosting will permit Kenya to assume chairmanship of Shelter Afrique in the continent to rally for affordable housing.

Kenya has been holding one of the two vice chairmanships of the continental real estate finance body since 2018.

As of 2017, Kenya was the largest shareholder among governments with an 11.16 percent stake, second to AfDB’s majority share of 22.7 percent.

Other large shareholders included Ghana (11.02 percent), Nigeria (9.62 percent) and Algeria (7.36 percent).

According to Transport Cabinet secretary James Macharia, Kenya assuming chairmanship of the continental firm will help advance the housing big 4 agenda of the government.

The AGM will take place from  June 8th to 12th   in Malindi.

Malindi and Kilifi are some of the towns that are beneficiaries of the Kenya urban support program and Kenya informal settlement improvement program.

“We are hosting in Malindi because we invested in an urban support program and Kilifi benefitted from the Kenyan program, “Hinga said

“We have been in touch with the governor of Kilifi on the same.”He added

During the AGM Kenya will showcase their heritage, affordable housing initiatives where a delegation from Uganda and Ethiopia will come to benefit from the same.

Kenya together with Shelter Afrique, the World Bank, and other international partners are investing 2 million dollars in house schemes in Kenya.

” We have to  continue urbanization and housing, with shelter Afrique we continue to see them as the value in the country, Class A equity housing scheme worth 2 million dollars together with T 2 capital scheme  comes from banks,”Hinga said

In the last 10 years, shelter Afrique has invested 50 billion dollars in affordable housing schemes in Kenya.

Delegates from 44 countries are expected to attend the AGM to discuss matters of affordable housing.

Hinga urged foreign investors to take up the opportunity and invest in housing indicating that the government has fast-tracked a tax exemption plan to ease terms of investing in the country.

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