Shelter Afrique Development Bank (ShafDB) has signed a Memorandum of Understanding (MOU) with CPF Group to significantly scale up the development of affordable housing across Kenya. The deal, announced on Monday, aims to address the country’s pressing housing deficit by accelerating the construction of low-cost residential units.
This agreement aims to combine the strengths of both organizations to significantly improve housing in Kenya. Mr. Chege highlighted the importance of this partnership, saying, “Our overriding strategy is the provision of affordable housing across our member states through public-private partnerships. This strategic partnership with CPF Group will be key in expanding our projects in Kenya.”
The Memorandum of Understanding (MOU) was signed in Nairobi by Dr. Hosea Kili, Managing Director of CPF Group, and Mr. Christopher Chege, Head of Credit and Operations at Shelter Afrique Development Bank, who signed on behalf of Managing Director Mr. Thierno-Habib Hann.
Dr. Kili of CPF Group shared his excitement about the partnership, noting the many ways the two organizations can work together. “We are excited to partner with Shelter Afrique Development Bank and leverage each institution’s strengths as we jointly address the perennial problem of decent and affordable housing in Kenya. This partnership opens up opportunities for collaboration in many areas, including product and services design and finding innovative funding solutions for our current and future projects,” he said.
Shelter Afrique Development Bank has been leading efforts to tackle Africa’s housing issues. The bank is dedicated to funding and supporting housing and urban development projects across the continent. It has played a key role in gathering resources and driving initiatives for sustainable urban growth. The bank’s focus on affordable housing matches the broader goals of the African Union’s Agenda 2063, which aims for inclusive and sustainable development.
A major part of this partnership is creating a Housing Solutions Fund for Kenya. This fund will work on improving both the supply and demand for affordable housing. Shelter Afrique Development Bank and CPF Group will work together to design and manage the fund, offering necessary financial and technical support to make sure it is successful.
The partnership between SHAFDB and CPF Group represents a significant development in Kenya’s housing landscape. It underscores the growing role of private sector investment in addressing the country’s infrastructure needs and highlights the importance of collaborative approaches to solving complex social challenges.
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