New plan to give middle class cheap home loans

Kenyans who earn at least Sh40, 000 a month, who are also considered to be the majority of the emerging middle class, could soon have the chance to get a loan to buy a house in a decent part of Nairobi.

The Government has over the decades failed to make good housing plans to cater for the majority of the residents, who are middle and low-income earners but several urban renewal projects underway could help reduce the acute housing shortage in Nairobi.

The shortage has been caused by poor urban planning by both the Government and the City Council, which have neglected to maintain houses and develop new ones.

SOURCE: Business Daily Africa – the international window into East African business opportunities – New plan to give middle class cheap home loans.

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