Social entrepreneur out to get low-income earners own homes

Karibu Homes co-founder Irfan Keshavjee (right) with Shelter Afrique managing director James Mugerwa during a project launch recently. PHOTO | SALATON NJAU |  NATION MEDIA GROUP

By MWIKALI LATI, mwikalilati@gmail.com

Posted  Monday, May 4   2015 at  19:03

In Summary

• Athi-type one-bedroom unit, he says, goes for Sh1.6 million while the two-bedroom one costs Sh2.57 million and three-bedroom house goes for Sh3.48 million.
• Tana-type homes are priced higher than the Athi-type with two-bedroom houses costing Sh3.23 million and three-bedroom units Sh5.02 million.
• Shelter Afrique has provided long-term funding for Karibu Homes to build 1,000 units on the 20-acre piece of land in the next four years.

Irfan Keshavjee grew up watching his parents balance between running their family business and doing community work.

During school holidays, he kept himself busy making hangers at the back of the dry cleaning shop, operating laundry machines and serving customers.

“I grew up watching my parents gain a lot of joy from engaging their know-how for a common cause,” says Mr Keshavjee, whose family operates White Rose Drycleaners.

“They rarely complain. If they don’t like something, they go out and do something about it. From small stuff like trimming the grass outside other houses on our road, to setting up a project to provide vocational skills to abused girls or helping local health and education initiatives.”

The 60-year-old laundry firm shares its income with all staff through a profit sharing or bonus plan.

So, for Mr Keshavjee social enterprise comes naturally.

He co-founded Honey Care Africa, creating a value chain in bee-keeping business for tens of thousands of smallholder farmers in Kenya, Tanzania and South Sudan.

Five years ago, he co-founded Karibu Homes, a real estate firm that offers low-cost housing to Kenyan families.

“Karibu Homes provides hard working Kenyan families affordable, well-constructed homes in thriving communities — a fundamental human need — and opens up home ownership to low-income families who have so far been excluded from this opportunity,” he says.

Mr Keshavjee says the firm offers two categories of houses for sale at one of lowest prices in the market.

Athi-type one-bedroom unit, he says, goes for Sh1.6 million while the two-bedroom one costs Sh2.57 million and three-bedroom house goes for Sh3.48 million. However, the Tana-type homes are priced higher than the Athi-type with two-bedroom houses costing Sh3.23 million and three-bedroom units Sh5.02 million.

Mr Keshavjee says Karibu Homes is a social venture, which he defines as use of an enterprise to bridge a gap in the provision of basic human needs.

“When we started researching for Karibu Homes, we found that 90 per cent of Kenya’s urban population is excluded from the housing market, which means that slums will keep sprawling,” he says. “Until someone makes housing more affordable, a decent house will be beyond the reach of most urban Kenyans.”

According to government reports, the demand for homes outstrips supply five-fold and the housing shortfall is growing at a rate of 150,000 units per year. 

Shelter Afrique has provided long-term funding for Karibu Homes to build 1,000 units on the 20-acre piece of land in the next four years.