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Kenya Commercial Bank set to offer mortgage backed securities

Kenya; Kenya Commercial Bank (KCB), the country’s largest lender by assets, plans to offer mortgage-backed securities on the local bourse to help developers raise funds to build new housing units, its Chief Executive said.

There are less than 30,000 mortgages in the east African nation against a potential of one million, according to the Government, and a severe shortage of houses has driven up prices.

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