TANZANIAN FINANCIAL AND HOUSING INSTITUTIONS STUDY KWFT’S MICRO-HOUSING FINANCE MODEL IN KENYA
By Jeff Kizzilah
A delegation of housing, banking and mortgage finance representatives from Tanzania has visited Kenya to learn from Kenya Women Microfinance Bank (KWFT)’s experience in financing incremental home construction and improvements.
The benchmarking visit brought together representatives from Habitat for Humanity, Tanzania Mortgage Refinance Company (TMRC), Tanzania Institute of Bankers (TIOB), NMB Bank Tanzania and CRDB Bank PLC.
During the visit, the delegation toured the home of a KWFT micro-housing customer in Machakos, where they explored how accessible financing can support households seeking to build or improve their homes progressively.
At the centre of the learning exchange was KWFT’s Nyumba Smart Loan, which offers financing ranging from KES 10,000 to KES 500,000 to support incremental home construction and improvements.
According to the information provided, the product has helped more than 83,000 Kenyans build or improve their homes and access decent housing.
The model highlights an approach to housing finance that enables customers to undertake improvements in stages, rather than necessarily relying on financing for an entire home at once.
The Tanzanian delegation’s visit reflects an interest in learning from Kenya’s experience with micro-housing finance and exploring approaches that could inform housing improvement initiatives in the region.
As housing affordability remains an important concern for households, financing products designed around incremental construction can provide an alternative route for families seeking to improve their living conditions.
KEY HIGHLIGHTS
- Loan range: KES 10,000–KES 500,000.
- Reported reach: More than 83,000 Kenyans helped to build or improve their homes.
- Location visited: A KWFT micro-housing customer’s home in Machakos.
- Purpose: Benchmarking Kenya’s experience in financing incremental home construction and improvements.
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