Gateway Global has signed a Memorandum of Understanding with the UN Habitat in a deal aimed at upgrading slums by building more houses in informal settlements locally and regionally. The deal seeks to make slums safe.
Director of UN Habitat, Maimuna Sheriff and Head of Gateway Global in Africa, Rahma Hersi said the pact will improve the living standards of the people.
"We are delighted to have this mandate, particularly because of the real impact it will have on people's lives. The need for ethical, culturally-sensitive solutions for some of the world's poorest people is imperative. We are excited to work with UN Habitat to help improve living standards." Ms Hersi said on Monday.
"This is a major milestone for our firm. We are grateful to UN Habitat for giving us this opportunity to bring Gateway's expertise on this project," added CEO of Gateway Ashley Freeman.
According to Kenya habitat, the housing deficit in Kenya stands at 2 million and continues to grow at a rate of about 200,000 units a year.
There is growth of informal settlements in urban areas with 61 per cent of the urban population living in slums in overcrowded homes near sewerages that have poor water supply.
Due to this, families are at high health risk of contracting diseases such as malaria, respiratory infections and jigger infestation.
To curb this increasing risk, Ms Hersi said Gateway Global plans to work with the UN Habitat SDG 11 project to develop adequate, affordable housing for all and upgrade slums.
"We support Gateway's desire to merge Islamic financial principles with social housing development, financial technology and capacity building" said Mr Maimunah Sharif, Executive Director of UN Habitat commented.