Absa boss explains shift to financing affordable housing

Acorn CEO Edward Kirathe, Lands CS Zacharia Mwangi Njeru and Absa Kenya Acting Chief Executive Yusuf Omari during. [Wilberforce Okwiri, Standard]

On February 8, this year, Absa Bank Kenya and rental housing developer Acorn Holdings Ltd (AHL) launched a Sh6.7 billion financing partnership that will see the latter add 12,000 beds to its capacity as part of its affordable housing plan for university and college students.

Acorn, one of the pioneers of the Real Estate Investment Trusts (Reits) in the country, will develop the students' accommodation housing units over the next three years.