Kenya Mortgage Refinance company launched

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I’m delighted to join you this morning to grace this important occasion, the launch of the Kenya Mortgage Refinance Company (KMRC). I note with appreciation this initiative is a partnership between the Government and the private sector. It demonstrates the possibilities of the growing synergy between the private sector and the Government towards the delivery [.]

Kenya’s President Uhuru Kenyatta launched the Kenya Mortgage Refinance Company (KMRC), a financial institution whose sole function is to provide long-term loans to primary mortgage lenders. The move to provide long-term cheaper funding to primary mortgage providers including banks , Microfinance.

The State department of Housing has asked Parliament to allocate sh6 billion for, among others, delivery of 500,000 low cost homes as well as formation of the Kenya Mortgage Refinance Company, a State-backed firm which will issue bonds in capital markets. The department told legislators that Sh4 billion will be used in slum upgrading programme, [.]

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 · The Kenya Mortgage Refinance Company (KMRC), a Treasury-backed lender, is expected to cut the cost of home loans to single digit from the current market rate of about 13.5 percent. President Uhuru Kenyatta Wednesday presided over the launch of KMRC, which is expected to help drive the State’s agenda of providing up to 500,000 cheap housing.

The Kenya Mortgage Refinance company, KMRC, launched today promise to double mortgage accounts in the country as it offers hugely discounted rates for house purchase.

Kenya launches mortgage refinance firm to offer loans to lenders NAIROBI (Xinhua) – Kenyan President Uhuru Kenyatta has launched the Kenya Mortgage Refinance Company (KMRC), a financial institution whose sole function is to provide long-term loans to primary mortgage lenders. II.

President Uhuru Kenyatta launched the Kenya Mortgage Refinance Company (KMRC) as part of efforts to achieve affordable housing, one of his Big Four Agenda.

Kenya Mortgage Refinancing Company is a step in the right direction towards making the Government initiative of providing 500,000 homes per year till 2022 come to effect. We expect the body to result to a rise in (i) number of mortgage lenders, (ii) the number of mortgage undertakings, and thus (iii) increased uptake of homes by the low-income.

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Kenya Mortgage Refinance Company (KMRC) is an initiative by the National Treasury and Investors to provide cheap financing to mortgage lenders. KMRC as a non deposit taking institution was officially launched by his Excellency President Uhuru Kenyatta early this week to help in tackling the looming housing shortage in the country.

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