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Kenya Mortgage Refinance company launched

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Central Bank of Kenya (CBK) has published draft regulations for mortgage refinance companies (MRCs), setting the stage for creation of a State-backed firm that will advance cash to banks for.

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The Kenya Mortgage Refinance Company ("KMRC") was incorporated in April 2018 as a Limited liability company under the Companies Act 2015, with the sole purpose of providing secure long-term funding to primary mortgage lenders (Banks & Saccos) in order to increase availability and affordability of housing loans to Kenyans.

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The Kenya mortgage refinancing company (KMRC), which was launched on Wednesday, will begin its operations early next month – issuing bonds and mobilising funds from global financiers. kmrc, the country’s first secondary mortgage financier, is expected to slash interest rates on home loans to single digit from the current rate of 13.5 per cent.

President Uhuru Kenyatta launches the Kenya Mortgage Refinance Company, a key institution geared at making the Affordable Housing Programme a success. Subscribe to NTV Kenya channel for latest.

KCB Bank Kenya has formally signed up for the Kenya Mortgage Refinance Company (KMRC), a non-deposit taking entity meant to drive affordable mortgages in Kenya. KMRC, a private public investment, majority owned by the private sector (80%) and the balance (20%) held by the government was launched this morning by President Uhuru Kenyatta in Nairobi.

1. national treasury cabinet secretary, Henry Rotich addressing Stakeholders on Kenya Mortgage Refinance Company (KMRC) at a Nairobi Hotel. KMRC, an initiative of National Treasury and World Bank will support the affordable housing agenda by providing secure, long-term funding to the mortgage lenders, thereby increasing the availability and affordability of mortgage loans to Kenyans.

"The World Bank has supported many mortgage refinance companies in emerging markets, and Kenya has the right pre-conditions for KMRC to be successful, such as supportive macroeconomic conditions, well.

 · HFC expects refinancing firm to solve home funding hitch. The government said in April it plans to form the Kenya Mortgage Refinance Company (KMRC), to be owned by the state, commercial banks and financial co-operatives, to unlock funds for lending to home developers and buyers. Kenya aims to provide 500,000 new affordable housing units by.