This project, constructed in partnership with NACHU, is based in the town of Mtwapa, situated 10km from the centre of Mombasa. Mombasa is currently one of the fastest growing cities in Kenya, which has resulted in rapid urbanisation and population growth. For this reason, Mtwapa was planned as NACHU’s first project in this coastal region. 38 core units were constructed, with full access to water and sanitation, as a pilot for future investment.
The project partnership also included a primary housing cooperative in Mtwapa, which had been saving with NACHU for an extended period. This allowed them to quickly generate deposits for the occupants to secure micro mortgage loans, which were offered as part of the project by NACHU. Construction costs were also able to be reduced, as water and sanitation could be implemented by the local authority.
Clients estimated to sit between 61st and 70th percentiles of incomes in Mombasa
|Description||Type||Number Expected||Number Completed||Unit Size (m2)||Sales Price |
|Monthly Cost |
|Loan Length (months)|
|2 rooms & wetcore, 20m2, 137m2 plot||Basic||38||38||20||1280000||22105||60|
|Finance Description||Finance Source||Deposit||Interest Rate (%)|
|2 rooms & wetcore, 20m2, 137m2 plot||NACHU||256,000||14.0|
Of KES 29,382,076 total investments, KES 6,669,879 was recycled funds from previous project payments
Of $271,699 total investments, $61,677 was recycled funds from previous project payments
Based on exchange rate on 31/12/2020
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Data last updated on 10/03/2021