Kenya’s premier real estate developer, Housing Finance and University of Nairobi has entered into discussions on possible areas of collaboration being; student scholarships, student accommodation, staff housing and credit facilities to staff.
Speaking during the meeting, Housing Finance Managing Director, Mr. Sam Waweru outlined possible areas of collaboration with the University of Nairobi. Key on his offer being credit facilities to staff at discounted rates, financing joint projects like student hostels, staff housing and offering treasury products to the University. He observed that the University could benefit from its surplus cash reserves by investing in treasury bills and bonds.
Housing Finance, has an objective of home ownership and have experience spanning 50 years, it is in this regards that the housing company want to offer the same to the University. It has previously worked with other government entities like, National Social Security Fund, NSSF. Other service that university staff could benefit from is insurance services.
On his part, the University of Nairobi Vice-Chancellor, Prof. Peter Mbithi said that the project should not have come at a better time. “University staff needs housing and students need accommodation facilities,” he said. The Vice-Chancellor noted that it would be better to work with Kenyan companies as compared to foreign companies due to legal tussles. Previously, the university have explored the possibility of Private Public Partnership to achieve such endeavours.
Going forward, a technical team headed by Prof. Isaac Mbeche, the Deputy Vice-Chancellor, Student Affairs and Acting Deputy Vice-Chancellor, Administration and Finance, has been formed and will be working on the finer details before the proposal is presented to the University Council for approval.