Kenya Mortgage Refinance company launched

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.

President Uhuru Kenyatta launched the kenya mortgage refinance company (kmrc) as part of efforts to achieve affordable housing, one of his Big Four Agenda.

 · President Uhuru Kenyatta, on Wednesday, launched a new firm, Kenya Mortgage Refinance Company, that will be tasked with overseeing his government’s Ksh2 trillion affordable housing project. The new company was launched in partnership with both the government and the private sector with the aim of boosting the delivery of the affordable houses.

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 · The Kenya Mortgage Refinance Company will be fully operational by the end of the month and is set to receive Ksh16 Billion from the World Bank. Treasury CS Henry Rotich confirmed that plans were underway for the company that will offer cheap loans to banks to target civil servants, self-employed persons, or salaried employees with a mortgage of up to 30 years to reduce the pressure on repayment.

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Kenya has unveiled a mortgage refining facility-Kenya Mortgage Refinance Company (KMRC), a short in the arm in President Uhuru Kenyatta’s affordable housing scheme under the Big Four Agenda. KMRC is a non- deposit taking financial institution under the supervision of the Central Bank of Kenya (CBK).

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Kenya: The National Treasury and Planning Launches the Kenya Mortgage Refinance Company 29th May 2019 Kenya: Rate of growth in house price drops 2.78%, largest decline since 2013

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.

President Uhuru Kenyatta on Wednesday launched the Kenya Mortgage Refinance Company, which seeks to increase the number of mortgages from the current 26,000 to over 60,000 by the year 2022.The World Bank and the African Development Bank have committed a total of 35 billion shillings($345million) towards the joint partnership between the private sector and the government.

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