President Uhuru launches mortgage company for cheap homes

President Uhuru Kenyatta said new venture will address deficit in housing created by huge rise in Kenya’s population as well as boost affordable housing and job creation agenda. Photo: State House.

 · President Uhuru Kenyatta has launched the Kenya Mortgage Refinance Company (KMRC), a financial institution aimed at providing long-term loans to primary mortgage lenders. The body will target primary mortgage providers including Banks, Microfinance Banks especially for the affordable housing pillar of the Big Four Agenda.

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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..

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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

Kenya's president eyes legacy with Big Four plan for economy. as the company navigated its way through the country's labyrinthine bureaucracy, this is probably the largest affordable housing project in Kenya right now,” says. Many Kenyans expect Mr Kenyatta's newly launched war on corruption to.

President Uhuru Kenyatta (right) when he met the Nairobi County Regeneration Team at State House, Nairobi on April 13, 2018. In summary. team leaders including CSs, PSs and CECs agree to resign if they fail to deliver. Team to launch a mortgage company to spearhead delivery of 200,000 affordable homes.

President Uhuru Kenyatta has made providing 500,000 new affordable homes by the end of 2022 one of his top four priorities. The country has an estimated 200,000 annual shortfall, which is expected.

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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.

President Uhuru Kenyatta Wednesday signed into law a Bill creating a 15 percent tax relief for Kenyans buying houses under the Affordable Housing Scheme. The President signed an amendment to the Income Tax Act to create a new section that establishes an Affordable Housing Relief set at 15 percent of the gross emoluments.

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