This archive report was first published on 24 October 2019.
On October 24, 2019, UN Habitat and Gateway Global signed a Memorandum of Understanding to upgrade slums by building more houses in informal settlements locally and regionally.
The deal aims to make slums safe and improve the living standards of the people.
According to Kenya Habitat, the housing deficit in Kenya stands at 2 million and continues to grow at a rate of about 200,000 units a year.
Director of UN Habitat, Maimuna Sheriff, and Head of Gateway Global in Africa, Rahma Hersi, said the pact will have a real impact on people's lives.
"We are delighted to have this mandate, particularly because of the real impact it will have on people's lives. The need for ethical, culturally-sensitive solutions for some of the world's poorest people is imperative," Ms Hersi said.
Gateway Global plans to work with the UN Habitat SDG 11 project to develop adequate, affordable housing for all and upgrade slums.
"We support Gateway's desire to merge Islamic financial principles with social housing development, financial technology, and capacity building," said Mr Maimunah Sharif, Executive Director of UN Habitat.
