Sustaining single-digit mortgage amid tough economic conditions

Kenya Mortgage Refinance Company CEO Johnstone Oltetia. [Kelly Ayodi, Standard]

Since the Covid-19 pandemic four years ago, the economy, both domestically and globally, has been reeling from gusting headwinds, a major one being the cost of credit.

Just recently, the Central Bank of Kenya (CBK) Monetary Policy Committee retained the Central Bank Rate at 13.0 per cent, sustaining the high cost of credit.