61% of Kenya’s urban households are located in slum areas
640 views · Published 13 April 2017 · 5:35 · Indexed 20 September 2026
Channel: CGTN Africa · 2017 · News & Politics
61% of Kenyan households in urban areas live in slums, simply because good quality housing is unavailable and unaffordable. Despite having East Africa's biggest capital markets, the country has barely 25 000 mortgages, in a country with a population of over 40 million. The expensive cost of mortgages, with an average interest rate of over 17%, partly explains why Kenya has an unmet demand of 2 million houses. According to the World Bank, that figure rises by over 240 000 units, each year. Despite this, Kenyan real-estate has been a hot asset class for years, and as CGTN's Ramah Nyang found out, savings and credit societies are filling in the funding gap left by commercial banks. Subscribe to us on YouTube: http://ow.ly/Zvqj30aIsgY Follow us on: Facebook: https://www.facebook.com/cgtnafrica/ Twitter: https://twitter.com/cgtnafrica
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