Mi Vida Homes Limited has announced the signing of a share purchase agreement for a management-led buyout of the company from Actis, the global sustainable infrastructure investor. The transaction, which remains subject to regulatory approval, marks a major milestone in the evolution of one of Kenya’s most prominent institutional housing developers.
While the valuation of the deal was not disclosed, the buyout is being hailed as a defining moment for Africa’s residential real estate market — showcasing how institutional-grade housing platforms can be incubated, scaled, and transitioned to local ownership while maintaining high environmental, social, and governance (ESG) standards.
First Management-Led Buyout in Kenya’s Residential Development Sector
Established in 2018, Mi Vida was created as a green affordable and mid-market housing developer, with a mission to deliver quality, sustainable homes tailored for the local market. The firm’s projects, including Mi Vida Garden City and other residential communities across Nairobi, have set new benchmarks for modern, ESG-aligned housing in East Africa.
In announcing the buyout, Samuel Kariuki, Chief Executive Officer of Mi Vida Homes, described the move as a pivotal chapter in the company’s growth story.
“This is the first such transaction involving a residential development platform in our market,” said Mr. Kariuki.
“It marks an important chapter in Mi Vida’s journey and reinforces the viability of institutional home builders in Africa. From inception, our ambition has been to deliver high-quality, sustainable housing solutions while maintaining the highest standards of governance and financial discipline.”
He added that Mi Vida now enters its next phase with a strong balance sheet, diversified capital base, and healthy pipeline of projects that position it for continued growth and impact.
“We are grateful for Actis’ invaluable role in building a solid, investment-grade platform anchored on sustainability and high governance standards,” Kariuki said.
Actis: ‘A Model for Institutionalisation in African Real Estate’
From Actis’ perspective, the transaction demonstrates the maturity and depth emerging in Africa’s real estate market.
Louis Deppe, Partner at Actis, said the Mi Vida transaction illustrates how global capital can successfully incubate and institutionalise African development platforms, ultimately transitioning them to local control.
“This transaction highlights the depth of opportunity for long-term capital formation in African real estate,” said Deppe.
“It validates the strength of a model where global investors incubate, institutionalise, and ultimately transition platforms to local ownership.”
He noted that Actis’ real estate business in Africa has evolved from investor-developers to platform builders, helping professionalise the sector through financial discipline and ESG leadership.
“The outcome at Mi Vida demonstrates both the scalability and investability of Africa’s residential sector, underpinned by robust demand fundamentals and increasing depth in local capital markets.”
A Proven Track Record in Delivering Sustainable Urban Housing
Since its launch, Mi Vida has focused on green construction, energy efficiency, and affordable quality homes for Kenya’s growing middle-income population. Its developments combine modern urban design with amenities such as green spaces, renewable energy solutions, and community-oriented layouts.
The firm’s focus on ESG-aligned real estate has earned it recognition from both domestic and international investors seeking sustainable returns.
Transition Reflects Growing Confidence in Local Ownership
Ravi Rughani, Principal at Actis, described the buyout as a validation of the long-term vision the two firms set out in 2018.
“Over the past six years, Mi Vida has been transformed into a platform with investment-grade governance, a robust balance sheet, and a well-diversified funding base,” Rughani said.
“It has achieved this while addressing urgent housing demand and delivering strong USD returns to our investors.”
He added that the transition to management-led ownership underscores the company’s institutional strength and ability to sustain growth independently.
“The successful transition of ownership to a management-led consortium underscores the durability of the platform we have built together,” Rughani said.
“This transaction reflects Actis’ philosophy of creating sustainable, scalable businesses that deliver long-term value while addressing critical local needs.”
The Broader Context: Africa’s Housing Opportunity
Africa’s affordable housing deficit — estimated at over 50 million units across the continent — presents a major investment frontier. In Kenya alone, the annual demand for new housing is estimated at 250,000 units, while supply remains under 50,000 units per year, according to the Kenya National Bureau of Statistics (KNBS).
By transitioning to local management, Mi Vida Homes signals the maturing of Africa’s institutional real estate ecosystem, where platforms are able to attract global capital, operate to international standards, and eventually localise ownership and control without compromising quality or governance.
What the Buyout Means for Kenya’s Property Market
Analysts view this transaction as a vote of confidence in Kenya’s property market, demonstrating that local management teams can successfully run institutional-grade housing platforms.
The deal also paves the way for potential local capital markets participation, including bond issuances or Real Estate Investment Trusts (REITs), to support future growth and affordability initiatives.
About Mi Vida Homes
Founded in 2018, Mi Vida Homes Limited develops affordable and mid-market residential projects in Kenya, integrating sustainability, community design, and smart living. The company is headquartered in Nairobi and operates as one of the country’s leading institutional home developers.
About Actis
Actis is a global investor in sustainable infrastructure and private equity, managing more than US$10 billion in assets across energy, digital, real estate, and financial services sectors. The firm has a long track record in Africa, having developed multiple market-leading real estate platforms and infrastructure projects.
