NAIROBI, Kenya, April 26 – HF Group, through its banking subsidiary HFC has entered into a partnership with the Jua Kali Contractors Federation of Kenya (JKCFK) that will see the lender support the federation and its members with access to credit.
Through the partnership, dubbed HFC Ujenzi na Makao, the artisans will also be able to get access to opportunities for enhanced participation in Kenya’s real estate value chain.
The two parties are expected to create synergies in the real estate market by supporting Jua Kali artisans with value addition for their products and services for increased revenue generation.
Through the partnership, HFC will provide the artisans with working capital in addition to training and capacity building opportunities including idea conceptualization to procurement of products and services, financing, joint market research and exposure to strategic partners.
These trainings will leverage a partnership that the lender has with Strathmore University’s Small Business Development Centers, which will facilitate the training programs.
“As a bank, our key focus is on the development of the SME sector and we are committed to strategic partnerships with the sector which plays a critical role in empowering lives, poverty eradication and the economic development of our country,” said HF Group CEO, Robert Kibaara.
The bank will provide a bouquet of financial solutions structured to suit the needs of all players in the affordable housing ecosystem.
This includes financing for contracts in excavation, masonry, joinery, steel works, plumbing and finishings.
“The State Department for Housing and Urban Development welcomes HFC’s support of this vision through the provision of mortgage financing, training and working capital to the Jua Kali sector to bolster their capacity to deliver in the supply chain. This provides a growth opportunity for the Jua Kali sector to corporatise and be the developers of tomorrow, ” stated the Principal Secretary, Charles Hinga.
Through the HFC Ujenzi na Makao programme, the Federation members will access working capital to facilitate works contracted for under the Government of Kenya’s affordable housing project.
The Federation members have been allocated 10 percent of all the Government of Kenya affordable housing units but members have faced challenges accessing financing in order to realize this benefit.
The bank will bridge this gap by providing mortgage financing to enable individual members own decent housing hence giving them dignity and enriching their lives.
The bank has set aside Sh4 billion over the next few years to finance players in the affordable housing ecosystem.
