Global investment firm Actis has signed a share purchase agreement to divest its stake in Mi Vida Homes, a Kenyan real estate development company, through a management-led buyout. The transaction, which is pending regulatory approval, represents a significant milestone in the evolution of institutional residential development in Africa.
Founded in 2018, Mi Vida Homes was established as a green, affordable, and mid-market housing platform, with a mission to address the growing demand for quality housing in Kenya. Over the past six years, the company has grown into a recognized player in the region’s residential real estate sector.
Commenting on the transaction, Samuel Kariuki, CEO of Mi Vida Homes, stated:
This is the first transaction of its kind involving a residential development platform in our market. It marks a pivotal chapter in Mi Vida’s journey and underscores the viability of institutional home builders in Africa. We’ve demonstrated that such platforms can be nurtured, scaled, and transitioned to local ownership.
The buyout reflects a broader strategic vision by Actis to incubate and institutionalize real estate platforms across Africa, ultimately transitioning them to local leadership. Louis Deppe, Partner at Actis, emphasized:
This deal highlights the depth of opportunity for long-term capital formation in African real estate. It validates a model where global investors play a catalytic role, incubating platforms, institutionalizing operations, and eventually handing over to local ownership. Actis has been a pioneer in this approach, evolving from investor-developers to true platform builders across the continent.
Ravi Rughani, Principal at Actis, added:
We are incredibly proud of our partnership with Mi Vida Homes and the journey we’ve shared since its inception. This transaction not only affirms the vision we set out in 2018 but also signals the growing institutional maturity of Africa’s residential real estate sector. Mi Vida has evolved into a platform with investment-grade governance, a strong balance sheet, and a diversified funding base, attributes that appeal to both international and domestic capital providers.
The management-led buyout of Mi Vida Homes is expected to serve as a blueprint for future transitions in the African real estate space, demonstrating that locally-led, institutionally-backed housing platforms can thrive and scale sustainably.
