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Housing sector key to post corona economic recovery - Uhuru

In Summary
  • Kenya targets to build 500,000 housing units by 2022
  • Recently, the World Bank extended a Sh22 million grant to support Shelter Afrique’s capital market program.
Shelter Afrique Board chair Steve Mainda, Kenya’s CS Infrastructure, Housing Roads, and Urban Development James Macharia and Shelter Afrique’s CEO Andrew Chimphondah at the opening of the Shelter Afrique’s 39th AGM and Symposium in Nairobi.
Image: DOUGLAS OKIDY

President Uhuru Kenyatta has underscored the importance of the housing and construction sector in the post Covid -19 recovery plans.

In a speech read on his behalf by the cabinet secretary Infrastructure, Roads, Housing and Urban Development James Macharia at the opening ceremony of Shelter Afrique’s 39th AGM  in Nairobi, Uhuru said while it is one of the sectors that has been impacted adversely by the economic slowdown, they have potential to rebound quickly.

“Economic history teaches us that the construction sector, including housing construction, has been very effective in driving economic recovery,” said Uhuru.

He said that the affordable housing agenda should remain front and center in the economic recovery debate due to the need to provide decent housing and essential infrastructure to all residents, especially the vulnerable populations living in slums and informal settlements.

Shelter Afrique’s CEO Andrew Chimphondah said large scale housing delivered by Private-Public-Partnerships (PPPs) is a vital way to inject much-needed capital into the economy.

“Since the beginning of the crisis, we have advocated that the construction of large-scale housing and related infrastructure can be the driver for economic revival post corona,” Chimphondah said.

The pan African housing development financier has also launched an internship programme designed to empower attract young and talented multi-disciplinary individuals from Shelter Afrique member countries.

Recently, the World Bank extended a Sh22 million grant to support Shelter Afrique’s capital market program.