Rose, then 26, and some of her women friends had formed a chama from which members borrowed to boost their small businesses. Three meetings later, Razak Housing Cooperative Society (known simply as Razak) was born and registered in March 2011. Already, 124 members of Razak are the proud owners of one-bedroom houses in Ruai, off Kangundo Road on the outskirts of Nairobi. After getting the house keys, they were required to settle this in Sh10,500 monthly instalments (including interest) over five years. So this movement will put more pressure on the demand for houses in urban environments,” says Mr Kamande.

Source: Daily Nation February 08, 2018 06:22 UTC