Kenya targets one million mortgages by unlocking affordable housing finance for non-salaried workers using alternative credit scoring models.

 

KMRC CEO Johnstone Oltetia speaks at the Kenya Affordable Housing Conference 2026, outlining strategies to expand sustainable homeownership financing nationwide.

By Maximilla Wafula

NAIVASHA, KENYA - Kenya is shifting its affordable housing strategy to address one of the sector’s biggest hurdles: enabling millions of non-salaried workers to secure long-term home loans.

Speaking at the 5th Kenya Affordable Housing Conference (KAHC 2026) in Naivasha, Principal Secretary for Housing and Urban Development Charles Hinga emphasized that building homes is only half the equation. The true measure of success lies in expanding mortgage access to everyday Kenyans.

Currently, Kenya has over 280,000 housing units under construction valued at KSh 731.5 billion, with more than 45,000 units worth KSh 52 billion slated for completion by December. However, traditional mortgage requirements heavily favor salaried employees, locking out traders, farmers, freelancers, and small-business owners who make up a substantial portion of the economy.

To bridge this gap, Hinga called for standardizing affordable housing mortgages and adopting alternative credit assessment tools. Lenders are encouraged to analyze mobile-money records, SACCO savings, rental histories, utility bills, and business transactions to determine creditworthiness. Integrating the Boma Yangu platform which boasts over 1.29 million registered users with financial institutions could further streamline prequalification and titling. The ultimate goal is to grow Kenya’s mortgage count from 30,000 to one million.

Financial sector leaders reiterated the need to address affordability across the entire development process. KCB Bank highlighted that rising construction costs, constrained financing, and unserviced land directly inflate final home prices. The bank advocated for alternative building materials, green architecture, and integrated infrastructure such as transport and sanitation to lower overall living costs.

Similarly, Shelter Afrique Development Bank CEO Thierno-Habib Hann noted that with over 80 percent of Africa’s workforce operating informally, housing finance across the continent must adapt through blended finance, green solutions, and digital underwriting.

Kenya Mortgage Refinance Company (KMRC) CEO Johnstone Oltetia challenged stakeholders to turn commitments into delivery, urging the industry to expand financial access as rapidly as new homes are built.