This archive report was first published on 17 October 2019.
On October 17, 2019, Karibu Homes, a Kenyan realtor, made history by winning the Africa Property Investment Award for its outstanding contributions to developing affordable housing.
The award recognized Karibu Homes' ongoing efforts to address the shortage of decent housing in Kenya, a problem that has been affecting many citizens.
According to Ravi Kohli, the founding managing director of Karibu Homes, the award is a testament to the suitability of their innovative housing products, which can be replicated across Africa.
“Karibu Homes’ strategy is to provide affordable and well-constructed homes that present Kenyans with a decent living space,” Kohli said.
With the help of a Sh355 million loan from Shelter Afrique, Karibu Homes was able to put up 288 housing units in Athi River town.
Andrew Chimphondah, the chief executive of Shelter Afrique, praised Karibu Homes' model, saying it created a ready market for its products and informed the lender's decision to fund the construction of more homes.
“Shelter Afrique focuses on the provision of affordable housing via such partnerships with developers and Karibu Homes’ objective augurs well with our mandate of expanding supply of low-cost housing across Africa,” Chimphondah said.
