By using an innovative and scalable building process, Karibu hopes to be able to drive the price of home ownership down to people making $300 per month. Owners will pay around 30% of their monthly income – about same as they would pay in a slum – and be on their way to fully owning their home in 15-20 years.
“The problem in Kenya is the first step out of the slums – we’re lowering the first rung of the ladder for people to get out,” Says Keshavjee.
It’s a solution for some, but not all. Many residents of the slums are making far below $300 a month, and still can’t even reach this ladder. And for them, the problem of finding safe, affordable housing is only growing. Slums are becoming more packed and less secure as migration from rural areas continues. Tech interventions like iShack, or more local and affordable building materials like Hyper-Wattle provide valuable solutions to the problem, but there’s still a massive gap to fill.