This archive report was first published on 10 December 2019.
On December 10, 2019, Cytonn Investments announced plans to raise at least 30 billion shillings to fund construction of 6000 mid to low-income houses through its regulated scheme dubbed Cytonn High Yield Fund.
Housing Principal Secretary Charles Hinga has backed the fund as the right impetus needed to boost private sector investments to accelerate affordable housing projects.
According to Cytonn Asset Managers Limited, the Kshs 30bn fund will be used for the development of 6,000 mid to low-income houses.
Stakeholders have expressed optimism in the specialized Collective Investment Scheme, which has a high allocation towards investment in real estate assets.
The fund's objective will be to outperform the income yield available from commercial banks by investing in alternative asset classes such as real estate.
