Financial Services - Nairobi, Nairobi County, Kenya
Makao Mashinani provides low cost housing Microfinance solutions to Kenya's urban and mid-urban population. Makao seeks to help solve the immediate and growing problem of the proliferation of informal settlements in Kenya's urban communities. These informal settlements house occupants in inhumane conditions, and are a violation of a basic human right. The U.N. has recognised this problem in its Millenium Development goals, as has the Kenyan Government in its constitution.Currently, only about 8% of Kenyans can access housing finance, therefore Makao has a huge market opportunity. It is estimated that with a 10% market share, Makao has the potential to service a $1 billion market.Makao was incubated within Kenya's K-rep bank for a period of 10 years in the form of K-rep's housing finance product. This has allowed Makao to gain great experience, and make a great number of relationships within the housing finance arena. Further, Makao can leverage the experience and network of its owners, K-rep bank and Akiba Mashinani Trust, to further ensure its success with this venture.
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