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BY PSCU, 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. The move to provide long-term cheaper funding to primary mortgage providers including Banks, Microfinance Banks and Saccos is aimed at making mortgage cheaper for Kenyans.
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KCB Bank Kenya has formally signed up for the Kenya Mortgage Refinance Company (KMRC), a non-deposit taking entity meant to drive affordable mortgages in Kenya. KMRC, a private public investment, majority owned by the private sector (80%) and the balance (20%) held by.
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