African Review of Economics and Finance

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Consolidating inclusive housing finance development in Africa: Lessons from Kenyan savings and credit cooperatives

Christopher Feather, Chris K. Meme


How can Sub-Saharan Africa consolidate inclusive housing  finance development? Conventional urban economic approaches have had limited success for housing finance throughout the region. Community-based funds are a possible alternative to expand accessible and affordable financial services towards meeting the housing needs for lower-income and slum dwellers. We probe this approach using qualitative content analysis and quantitative data assessment methodologies, and analyse the  unparalleled development of Kenya’s financial cooperative societies, commonly referred to as savings and credit cooperatives (SACCOs). The article finds SACCOs are positioned to promote access to affordable housing finance in Kenya. The Kenyan experience with SACCOs has many  commonalities with other countries in the region and can inform African policymakers seeking to strengthen their financial sector, especially in terms of housing credit.

Keywords: Community savings; Affordable housing finance; Savings and Credit Cooperatives (SACCOs); Credit unions; Kenya; Africa.

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