The Kenya Mortgage Refinance Company (KMRC) is looking to raise funds from institutional and retail investors in October-December 2021 after a change of plan from September.
KMRC is expected to triple affordable homes loans to Ksh 7 billion in the current financial year, an increase of 154.73 percent from the Ksh 2.75 billion in the previous year. The firm lends money to Saccos and banks for onward lending to Kenyans at an affordable rate.
In the financial year 2020/2021, KCB received over Ksh 2 billion, topping the list of mortgage lenders funded by KMRC. HF Group got Ksh 515 million during the period. Data from the KMRC also indicates that in the cooperative sector, Stima Sacco received Ksh 69 million and Tower Sacco got Ksh 30 million.
