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President Uhuru launches mortgage company for cheap homes

Arrange a credit line (e.g. with WB or AfDB) for providers of long term mortgages Set up the kenya mortgage refinancing company (kmrc) to manage low cost liquidity for mortgages Work with banks to expand offering to informal sector through new background checks

Uhuru launches mortgage company for cheap homes In Summary The initiative is aimed at reaching the goal of adequate, safe and affordable housing for all, especially the lower income group.

In Summary. The treasury wednesday announced that it was teaming up with the private sector to establish a wholesale company that will finance commercial banks and saccos to enable them disburse affordable home loans to low-income earners. The new entity, to be known as the Kenya Mortgage Refinance Company (KMRC),

The prototype op room was built in downtown Santiago, in the interior courtyard of a building occupied by the national telecom company. the President told the team to keep working. And they did,

President Uhuru to launch Housing Project-part of Big 4 Agenda. "We have already secured 7,000 acres of land for this initial phase. We are also working with the National Treasury, the World Bank and other stakeholders to operationalise the Kenya Mortgage Refinancing Company to provide medium and long-term liquidity to mortgage lenders," Macharia said.

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Since the launch at Makerere of. projects in East Africa and here at home. In the 1980s, President Daniel Toroitich arap Moi launched a similar homegrown "Nyayo" car project in Kenya, with a saloon.

BY PSCU, 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. The move to provide long-term cheaper funding to primary mortgage providers including Banks, Microfinance Banks and Saccos is aimed at making mortgage cheaper for Kenyans.

President Uhuru Kenyatta has said provision of affordable housing is one of his four key priority areas in his second term and aims at providing 500,000 affordable houses in five years.

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