KMA secures loan from Shelter Afrique

By KBC Reporter

Shelter Afrique says the funds are earmarked to co-finance development of the Mtwapa housing project

Shelter Afrique has extended a 740 million development loan to Kenya Medical Association Housing Co-operative for construction of 160 housing units in Mtwapa, Mombasa County.

Shelter Afrique Acting Managing Director Yekini Olayanju says the funds are earmarked to co-finance the development of the housing project.

The signing of the loan facility with KMA comes as Shelter Afrique courts housing Saccos across the country.

Olayanju says the company is keen on keying into the schemes and solving the challenges of housing being faced by member of various Saccos.

Olayanju says the company is actively extending support to similar projects as part of its corporate commitment to boost supply of affordable housing units for Kenya’s growing middle class among other social classes.

The five year loan will be priced at 13.5 percent.

Kenya Medical Association has to date completed three residential developments comprising about 307 housing units.