Investing in Kenya's
future, its youth


Absa provided Acorn Student Accommodation D-REIT a 6-year development finance loan of KES 6.7 billion to part finance the development of 10 sustainable, high quality, purpose-built student accommodation projects.

Acorn Student Accommodation D-REIT are pioneers of REIT market development in Nairobi, with Acorn Student Accommodation D-REIT being the first issuers of a development REIT in Africa. This follows the company’s success of being the first issuer of a green bond in Kenya. As a Pan-African bank, sustainability is a key strategic enabler. We’re passionate about ESG and bringing more sustainable assets to the African market.

Student accommodation throughout Africa remains an in-target asset class given the market demand and social importance related to housing on the continent. With this deal – a development finance loan to part finance the development of 10 sustainable, high quality, purpose-built student accommodation (PBSA) projects - we became the first bank to finance a development REIT in a bilateral loan agreement in Sub-Saharan Africa. This is also our first sustainable finance for a commercial property finance transaction outside of South Africa.

The bravery to imagine and the will to get things done. That’s Africanacity. 

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