KMRC to float bond to fund low-cost housing

Kibaara, who looks up to Equity Bank’s James Mwangi, said he’s not afraid of exploring alternatives.

For affordable housing, the borrower’s income threshold is Sh150,000 per month.

In the new rules, the regulator restricts individual commercial banks from owning more than 25 per cent of KMRC.

Launched in May this year, it is currently managed by an acting chief executive with a thin staff.

By opening up the mortgage market to those who need it most, the government took a big step in the right direction

Loans will be capped at Sh4 million in Nairobi, Kiambu, Machakos and Kajiado and Sh3m for the rest of the country.

For instance, KCB Bank Kenya, the country’s biggest bank by assets, said it plans to have 20,000 mortgages in its books by the end of 2020.

Pan African mortgage lender Shelter Afrique is banking on President Uhuru Kenyatta’s Big Four agenda for a comeback in the Kenyan market.