KCB Bank Partners with Mi Vida Homes to Boost Affordable Housing in Kenya
KCB Bank Kenya has inked a strategic partnership with real estate developer Mi Vida Homes in a major push to accelerate the development of eco-friendly, affordable housing across the country.
The collaboration is set to support the government’s Affordable Housing Programme, aiming to close the housing deficit by increasing access to quality homes at competitive financing rates.
The partnership will see KCB Bank offer debt financing to Mi Vida for the construction of modern, well-planned housing units, while also extending end-user mortgage solutions to prospective homeowners.
With a commitment to delivering 5,000 homes over the next five years, Mi Vida Homes is focused on providing sustainable and high-quality living spaces, particularly for the affordable and mid-market segments.
KCB Bank Director of Mortgage Business, Caroline Wanjeri, noted that the partnership is part of the bank’s broader strategy to strengthen both the supply and demand sides of Kenya’s housing sector.
“At KCB, we believe that homeownership is a key pillar of economic and social progress. This partnership with Mi Vida Homes reflects our ongoing efforts to provide innovative and accessible financing solutions that empower more Kenyans to own homes,” said Wanjeri.
“By leveraging our financial expertise and Mi Vida’s development capabilities, we are unlocking new opportunities for families across the country.”
Mi Vida Homes CEO, Samuel Kariuki, emphasized the importance of balancing affordability with quality and environmental sustainability.
“Sustainable urban living is no longer a luxury it is a necessity,” said Kariuki. “In a rapidly urbanizing Kenya, timely project delivery is critical whether it’s for a homeowner or an investor. Real estate must evolve to meet today’s needs while ensuring a sustainable future for generations to come.”
KCB Bank Kenya, a subsidiary of KCB Group Plc and the largest commercial bank in the country, brings to the table a robust financial infrastructure, including over 200 branches, 367 ATMs, and a network of 16,000 agents across East Africa.
Through this partnership, Mi Vida’s master-planned, mixed-use communities will be made available to KCB’s growing mortgage clientele.
The move comes as Kenya faces a significant low-income housing shortage, with the government aiming to provide over 250,000 affordable units nationwide.
Strategic partnerships like that of KCB and Mi Vida are seen as critical in delivering this goal, providing both the financial muscle and construction expertise needed to address the country’s housing challenging.
