Kenya's mortgage market is transitioning into green finance, offering new options for buyers to finance energy-saving and climate-resilient homes. The latest example is a 110 per cent loan that gives homebuyers more than the purchase price to cover eco upgrades.
Absa Bank Kenya unveiled the product on Friday alongside its 2024 Sustainability and Climate Report.
Chairman Charles Muchene said the loan aligns with emerging global standards for sustainability reporting. "We see this as a necessary shift to build investor confidence and comparability," said Muchene.
The lender issued Sh 47 billion in sustainable finance last year, with Sh 25.1 billion channelled through its Timiza digital platform to small businesses, women-led enterprises, youth-led enterprises and underserved communities.
