Is Kenya ready for secondary mortgages?

In a country where the number of primary mortgage holders is still small, the idea of a higher-tier home loans market where lenders resell mortgages to external investors using the value of mortgage loans as collateral may sound far-fetched. But proponents of a secondary mortgage market argue that is what Kenya needs to ensure long-term funding as well as realise single-digit lending rates, writes FRANCIS AYIEKO.

Mugo Kibati, the man charged with steering the country to a newly industrialising, middle-income status by 2030, has a new vision. The Vision 2030 Secretariat Director-General has lately been thinking about real estate and believes he has an idea that could make housing affordable to the majority of Kenyans.