Our investment strategy is tailored to local market conditions where economic and political conditions are supportive of
development and private market investments.
Our investment strategy is tailored to local market conditions where economic and political conditions are supportive of
development and private market investments.
Our investment strategy is tailored to local market conditions where economic and political conditions are supportive of development and private market investments.

At IHS, we take a strategic approach to investing in affordable housing that is tailored to local market conditions. We focus on identifying areas where there is rapid growth in housing demand that is not being met by existing supply. Our investment strategy takes into account both economic and political conditions, with a focus on areas that are supportive of development and private market investments.
Our commitment to partnering with local companies enables us to leverage existing capacity while minimizing investment risk. By building organizational strength among local housing market participants, we aim to pave the way for further economic growth and foster international partnerships.
We take a diversified approach to our investments, both in terms of geographic regions and product types. Our goal is to go beyond simply building housing units and create sustainable communities through our mixed-income and mixed-use development model. By creating vibrant, inclusive communities, we can help drive economic growth and improve the quality of life for all residents.

At IHS, we take a long-term approach to property investments, with typical individual investments lasting between five and seven years. Our investment strategy is designed to align with the maturity of the investment vehicle, ensuring that all investments are fully exited by its end-term.
We focus on investing in markets where there is a significant shortage of developed homes and a strong demand for affordable housing. The residential real estate market in South Africa and our target countries in Sub-Saharan Africa support investment dispositions, driven by robust sales or listing of rental portfolios. We remain vigilant in monitoring market trends and adjusting our investment strategy accordingly to ensure that we maximize returns while also meeting the needs of the communities we serve.
An independent social impact study, conducted by the University of Cape Town, found that the high-quality and well-located housing developed by our first multi-investor fund (“SAWHF”) had had a profound impact on the lives and overall welfare of the residents. Over 72% of the households polled said their lives had improved significantly.
Beyond the positive social impact of our communities, IHS provides ongoing support and funding for a variety of social development programs, including learnerships and employment for women with diabilities, mentorship and job creation for disadvantaged entrepreneurs, and student services. We also provide quarterly and annual social impact reports that track the impact and performance of our closed transactions.
IHS Fund II, our latest multi-investor fund, is focused on investing in green housing units that are certified to meet IFC’s EDGE standards. More information on IFC’s EDGE program can be found at www.edgebuildings.com.
IHS maintains a rigorous system of governance and detailed reporting for its funds to keep investors well-informed by:

Cathal Conaty is a founder of IHS and serves as a Group Managing Director responsible for Portfolio Management and Capital Raising for IHS as a whole. He is also chairman of the Investment Committee, which approves all IHS investments and dispositions. He has been involved in affordable housing since 1993, and brings extensive experience in residential property investment, spanning capital raising, investor closings, portfolio management, deal structuring and negotiation, financial engineering and the management of major renovation projects.
Mr. Conaty holds an MBA from IESE, Barcelona, Spain and a BA from University College in Dublin, Ireland.

Prior to joining IHS, Hennie worked for KPMG where he was a Manager in Audit. Managing a team of up to 8 people, he managed the audits of several large holding companies as well as a number of smaller firms in a number of sectors. Hennie obtained his BCom (CA), Postgraduate Diploma in Accounting (Honours), and a Postgraduate Diploma in Tax (domestic and international) from North West University (SA). He is registered as a CA (SA) with SAICA.

He has held other property-focused positions such as Commercial Director at Pangbourne Properties and Head of Listed Property Funding at Rand Merchant Bank. He holds an LLB from Wits University.

Prior to that he was at ABSA for four years in a number of senior positions, with responsibility for assets totalling approximately ZAR15bn. He has also managed the asset management and property development departments at Liberty Properties. Solly obtained his BCom and Post Graduate Diploma in Property Studies from University of Witwatersrand (Wits). He was until recently the Vice President of SAIBPP (South African Black Property Practitioners).

Previous positions includes the Financial Manager and Company Secretary at Fortress Income Fund Ltd and Debtors Manager at Zenprop Property Holdings. Stephanie has an Honours BCom Accounting degree and is a registered Chartered Accountant.

Responsible for Capital Raising and Investor Relations for IHS Kenya, Mr Mayavi is an accomplished property development professional with over 14 years of experience. He joined IHS Kenya from the Kenya Revenue Authority where he founded and headed the Construction and Property Development Division as a Chief Manager. The work at KRA included setting up the Division, property development spanning housing and commercial buildings for the Authority and property management for all the KRA Pension owned properties. His previous positions include Projects Manager for AMS Properties where he handled residential end-to-end developments, as well as overseeing commercial development.
Peter has also held Project Management positions in the telecommunications sector as well as in Oil and Gas. Peter earned his BSc in Civil Engineering from Jomo Kenyatta University in 2008 and an MA in Project Planning and Management from the University of Nairobi in 2015. He’s currently pursuing a PhD in Project Finance from the University of Nairobi. He is also a corporate member of the Architectural Association of Kenya as well the International Project Finance Association.


Benard Ndichu Kiriga joined IHS Kenya in October 2024 as the Marketing and Sales Manager, where he is responsible for residential property sales and the letting of residential units. He plays a key role in driving sales strategies and expanding the company’s residential portfolio.
Before joining IHS Kenya, Benard served as a Senior Real Estate Advisor at Tatu City, where he was involved in deal structuring, prospecting, and selling bulk residential and industrial properties. He also worked in the banking and affordable housing sectors, serving as the Team Leader of Mortgage Business at Housing Finance Bank and as Team Leader of Affordable Housing at Buildx Studio. With a total of four years in commercial real estate and three years in banking, he brings a diverse set of skills to his role at IHS.
Benard holds a Diploma in Sales and Marketing from the Chartered Institute of Marketing (CIM), United Kingdom, and a Diploma in Business Management from the Management University of Africa. He is currently pursuing a Bachelor of Commerce at Strathmore University in Nairobi, further enhancing his business acumen and leadership abilities.

Patricia Muigei joined IHS in 2021 and is currently an Asset Manager specializing in real estate investment and asset management. She has seven years of experience in investment management, focusing on maximizing asset performance, conducting financial and research analysis, and overseeing residential property investments. Patricia’s role is critical in ensuring the optimal financial performance and long-term growth of rental property assets.
Prior to joining IHS, Patricia worked as a Junior Asset Manager at IHS South Africa, gaining valuable experience in asset optimization and investment structuring. She has been instrumental in the strategic oversight and operational management of rental assets at IHS Kenya for the past four years, contributing significantly to the company’s real estate portfolio.
Patricia holds a Bachelor of Science in Financial Engineering from Jomo Kenyatta University of Agriculture and Technology (JKUAT) and a Certification in Finance from the University of Cape Town (UCT). She is currently a CFA candidate and continues to enhance her expertise in investment and asset management.

Beatrice Njoki joined IHS in 2021 as an ESG Manager, specializing in Environmental, Social, and Governance (ESG) factors in the construction industry. With extensive experience across the quarrying industry, building and civil works contractors, and private equity, Beatrice focuses on developing and implementing ESG frameworks to align with investor and community expectations.
Before joining IHS, Beatrice worked with several organizations, applying her expertise in ESG assessments, stakeholder engagement, and policy implementation. Her role involves embedding ESG considerations throughout the investment lifecycle, from project evaluation to post-investment monitoring, ensuring that all projects align with responsible investment practices.
Beatrice holds a strong background in ESG and sustainable practices, and her expertise ensures that IHS’s investment and development projects are impactful and aligned with global standards for responsible and sustainable growth.

Freda Rutere-Mbugua joined IHS Kenya in 2023 and is responsible for deal origination and closing. She brings over 15 years of experience, having held leadership roles in commercial real estate development, investment, asset management, and structural engineering. Her expertise spans the entire real estate investment lifecycle, and she is passionate about driving project efficiency and enhancing access to quality, affordable housing across Africa.
Before joining IHS Kenya, Freda served as the Development Director at The Waterfront Karen Development, where she successfully managed the delivery of a US$ 120 million retail-led mixed-use development in Nairobi. She has also led cross-functional teams in delivering projects across diverse sectors such as affordable housing, education, retail, and hospitality throughout North and Sub-Saharan Africa.
Freda holds a BEng (Arch) in Architectural Engineering from the University of Leeds, an MSc in Real Estate Investment Finance (REIF) from Oxford Brookes University, and a Certificate in Real Estate Financial Modelling from the University of Cambridge. Her academic qualifications complement her deep industry knowledge, allowing her to drive value for stakeholders and the built environment.

Elkanah Munga Thiiru joined IHS Kenya in 2024 as Legal Counsel, responsible for handling all legal matters and ensuring legal compliance for the IHS Kenya Fund and the broader IHS group entities. He plays a pivotal role in overseeing legal risk management and providing legal advice across various departments within the company.
Before joining IHS Kenya, Elkanah was an associate at Waithaka & Associates Advocates, where he gained significant experience in dispute resolution. He represented both local and international clients in civil, criminal, constitutional, commercial disputes, and more. Over the years, he has handled complex litigation before the Court of Appeal, High Courts, Magistrates’ Courts, and quasi-judicial tribunals, specializing in corporate, commercial, insurance, employment, constitutional, environmental, land law, and more.
Elkanah holds a Bachelor of Laws (LLB Hons) from Jomo Kenyatta University of Agriculture and Technology and was admitted to the Roll of Advocates of the High Court of Kenya in 2023. He is a dedicated legal professional specializing in property law, litigation, and corporate compliance.

Priscilla Ngugi joined IHSPM in 2025 as a Sales Associate, responsible for selling residential properties. She plays a key role in driving sales initiatives and fostering client relationships to ensure the successful sale of residential units.
Before joining IHSPM, Priscilla worked as a Real Estate Adviser at Tatu City, where she handled residential and industrial properties. She also gained valuable experience as a Sales Associate at Lloyd Masika, focusing on both residential and commercial properties. Her diverse experience across real estate sectors strengthens her ability to deliver outstanding results for her clients.
Priscilla holds a degree in Business Administration (Marketing) from Gretsa University, a diploma in International Tourism from Gretsa University, and a certificate in Travel Operations (Galileo) from the Regional Institute.

Priscilla Oluga joined IHS Kenya in October 2024 as an Asset Development Manager, where she is responsible for overseeing all aspects of Asset Management for closed deals. She ensures that projects meet their projections during final closeout. Priscilla brings 12 years of experience, combining deep technical knowledge, financial acumen, and strategic planning to manage real estate assets effectively.
Before joining IHS, Priscilla held leadership roles as a Construction Project Manager for GREA – DH3 Kenya Limited and Senior Project Manager at Ark Construction Ltd. She managed large-scale construction projects, such as the Diplomatic Housing Development in Nairobi and various others valued at approximately KES 3 billion. Earlier in her career, she was a Senior Architect at Symbion Kenya Ltd, where she led high-profile projects worth KES 2 billion.
Priscilla holds an MSc in Real Estate from the University of Reading (UK) and both a Bachelor of Architecture and a Bachelor of Architectural Studies (1st Class Honors) from the University of Nairobi. She is a registered Architect in Kenya, an IFC Edge Expert, and a certified PMI Project Management Professional (PMP).

Sharon Akala joined IHSPM in 2024 as a Sales Associate, responsible for selling residential units, from off-plan developments to completed projects. She plays a vital role in the sales process, ensuring that clients receive high-quality service throughout their property purchase journey.
Before joining IHS Kenya, Sharon worked as a Real Estate and Administrative Executive at Thompson Investments Limited, where she was responsible for client needs related to property purchases and investor relations. She also gained experience in sales and marketing at Meteor Properties Limited, ensuring client satisfaction and maximizing returns.
Sharon holds a Bachelor of Science degree in Mathematical and Statistical Science, specializing in Financial Modelling, from the University of South Africa. She is also certified as a Financial Modelling and Valuation Analyst (FMVA) by the Corporate Finance Institute (CFI). Currently, Sharon is working towards her incorporation into the Estate Agents Registration Board.

Sharon Wayua Anthony joined IHSPM in 2024 as a Transaction Associate, responsible for coordinating transactions across the Sales, Finance, and Legal departments and managing client transactions throughout the process. She ensures smooth communication and transaction flow between departments and clients, making sure that deals progress efficiently.
Before joining IHSPM, Sharon worked as an Accountant at Internet Solutions Kenya Ltd (now NTT DATA), where she managed key accounts, intercompany credit control, and financial reporting. She was responsible for monthly and annual financial reports, budgets, and cashflow forecasts, providing valuable financial insights to the company.
Sharon holds a Bachelor of Commerce Degree (Accounting Option) from Kenyatta University and is currently pursuing the CPA qualification to further her expertise in accounting and finance.

Moses Kariuki joined IHS in 2023 as a Project Manager, bringing extensive experience as a registered professional structural engineer and project manager. He has a diverse background, having worked across various projects in Africa, with expertise in structural design, construction supervision, quality control, contract management, and sustainable building solutions.
Before joining IHS, Moses served as a site engineer, project manager, and structural engineer for global organizations such as the UN. His experience spans a wide range of projects, from construction management to technical project execution, and his role at IHS involves ensuring successful project delivery across the company’s portfolio.
Moses holds an MSc in Project Management, a BSc in Civil and Structural Engineering, and certifications as a PMP, CPA(K), and EDGE Expert. He is a registered professional engineer with the Engineers Board of Kenya (EBK), a corporate member of the Institution of Engineers of Kenya (IEK), and a member of the Project Management Institute (PMI).

Kelvin Macharia joined IHS in 2022 as an Investment Manager. He is an RICS-qualified Chartered Surveyor with over 14 years of experience in real estate market research, feasibility studies, strategic consulting, financial modelling, and development management. At IHS, he plays a pivotal role in evaluating and managing investments while supporting the overall growth of the real estate portfolio.
Before joining IHS, Kelvin worked as a Development Manager & Property Consultant at Emerge Developments Limited and as a Property Development Analyst at Mentor Management Limited (now Turner and Townsend). His experience spans a range of strategic real estate roles, where he successfully managed large-scale developments and provided high-level advisory services.
Kelvin holds a bachelor’s degree in construction management from the University of Nairobi and an MSc in Real Estate and Property Management from the University of Salford, Manchester. He is also a Certified Public Accountant (CPA) and a Certified Investment and Financial Analyst (CIFA), which further bolsters his extensive expertise in the real estate industry.

Mary Githunguri joined IHS Kenya in January 2025, bringing 10 years of experience in maintaining clean, hygienic, and organized work environments. She is dedicated to ensuring that the office remains spotless, fresh, and welcoming for both employees and visitors, creating a conducive atmosphere for productivity.
Before joining IHS Kenya, Mary worked in similar roles at ABSA offices under Parapet Cleaning Services. She was responsible for maintaining cleanliness and hygiene standards in high-traffic office spaces, ensuring that facilities were always in top condition.
Mary holds a Diploma in Hotel & Hospitality from Cross World Institute. Her attention to detail and commitment to excellence make her an essential member of the IHS Kenya team.

Julie Mbithi joined IHS Kenya in July 2021 and is responsible for office management, staff support, office communication, and conference coordination. She plays a vital role in ensuring the seamless operation of the IHS Kenya office by maintaining an organized and efficient environment for staff and visitors.
Before joining IHS Kenya, Julie gained valuable experience in similar roles at Masaba Services and Retail Management Solutions. She was responsible for managing office operations and staff logistics, ensuring smooth workflows and communication within the organizations.
Julie holds a Bachelor of Business Administration (Human Resource) from Kenya Methodist University. Her organizational skills and experience in administrative functions make her an integral part of the IHS Kenya team.

John Mwai joined IHS in 2023 as an Investment & Development Manager, focusing on real estate development management. He brings a wealth of expertise in investment management, financial modelling, capital raising, portfolio management, and deal structuring. John plays a crucial role in capital raising and strategic project execution, contributing to the development of high-impact real estate projects at IHS.
Before joining IHS, John held leadership roles at GenAfrica Asset Managers, Safaricom Investment Co-operative, Centum Real Estate, and Athena Properties. His career spans a diverse range of roles in real estate, pension fund asset management, property development, and real estate e-commerce platforms, where he consistently delivered innovative investment strategies and value-adding projects.
John holds a BSc in Financial Engineering from Jomo Kenyatta University of Agriculture and Technology (JKUAT), is a CFA Level 2 candidate, and is currently pursuing an MBA in International Business. His combination of strong analytical skills, strategic thinking, and hands-on leadership makes him a key player within the IHS team.