Islamic Finance

Gateway Global signs new MOU with UN-Habitat

On Wednesday 16th October 2019 Gateway Global, through its partner arm in Kenya, signed a Memorandum of Understanding (MOU) with the UN Habitat. This is to advise and support the work they are doing in particular SDG 11 in communities they serve. The MOU was signed between the Executive Director of UN Habitat, Maimuna Sherif and Head of Gateway Global in Africa, Rahma Hersi. This new partnership will see the development of various human settlement areas both locally and regionally by making them safe and sustainable for all.

Rahma Hersi, Head of Gateway’s African operations and UN Habitat project leader, said “We are delighted to have this mandate, particularly because of the real impact it will have on people’s lives. The need for ethical, culturally-sensitive solutions for some of the world’s poorest people is imperative. We are excited to work with UN Habitat to help improve living standards.”

According to Kenya habitat, the housing deficit in Kenya stands at 2 million and continues to grow at a rate of about 200,000 units a year. There is growth of informal settlements in urban areas with 61% of the urban population living in slums in overcrowded homes near sewerages that have poor water supply. Families are at high health risk of diseases such as malaria, respiratory infections, and jigger infestation. To curb this increasing risk, Gateway Global plans on working hand in hand with the UN Habitat SDG 11 project to develop adequate, affordable housing for all and upgrade slums.

The above is one such challenge where Islamic/Ethical financial solutions can help, in terms of offering innovative structures and opportunities for sustainable development of the poorest and most vulnerable communities. The global challenges across the board will require more out of the box thinking to solve current issues.

Maimunah Sharif, Executive Director of UN Habitat commented “We support Gateway’s desire to merge Islamic financial principles with social housing development, financial technology and capacity building”. Ashley Freeman, CEO of Gateway added, “This is a major milestone for our firm. We are grateful to UN Habitat for giving us this opportunity to bring Gateway’s expertise on this project.

About Gateway Global Gateway is a global multifaceted professional services firm that enables its clients to enter new markets, reorient Islamic economies, and construct ethical solutions across all four continents and has partners in: United Kingdom, United Arab Emirates, Qatar, Turkey, and East Africa. Some of its key areas of expertise are: Gender Equity and Inclusivity, Digital Strategy and Finetech, and Social Responsibility and Impact.

About UN Habitat The United Human Settlement Programme, UN Habitat, is mandated to promote socially and environmentally sustainable towns and cities with the aim of providing adequate shelter for all. In September 2015, the United Nations Sustainable Development Summit adopted a new framework to guide development efforts between 2015 and 2030, entitled “Transforming our world: the 2030 Agenda for sustainable development.” The 2030 Agenda contains 17 Sustainable Development Goals (SDGs) and169 targets. The SDGs address, in an integrated manner, the social, economic and environmental dimensions of development, their interrelations, aspects related to peaceful societies and effective institutions, as well as means of implementation.

Copyright Press Release 2019



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