Affordable housing project: Uhuru speech during launch of Kenya Mortgage Refinance Company

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– Uhuru said the new venture is aimed at addressing the deficit in housing created by the huge rise in the country’s population. President Uhuru Kenyatta on Wednesday, May 22, launched the Kenya Mortgage Refinance Company (KMRC), a financial institution whose sole function will be to provide long-term loans to primary mortgage lenders.

The Affordable Housing Programme is steadily moving towards full-realization and will benefit millions of Kenyans. In the coming weeks and months, I will be commissioning various Projects under this seminal programme; One such project is being implemented by the United Nations Office of Project Services (UNOPS) and is expected to deliver.

speech by his excellency president uhuru kenyatta, cgh, commander-in-chief of the kenya defence forces, during the 37th annual general meeting and 2018 annual symposium of shelter afrique ; keynote speech by soula proxenos: attracting institutional investment in (affordable) housing in africa

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The Kenya Mortgage Refinance Company (KMRC), a Treasury-backed lender, is expected to cut the cost of home loans to single digit from the current market rate of about 13.5 percent. President Uhuru Kenyatta Wednesday presided over the launch of KMRC, which is expected to help drive the State’s agenda of providing up to 500,000 cheap housing.

President Uhuru Kenyatta (center) during the launch of the company at Windsor Golf Club on May 22, 2019. Twitter President Uhuru Kenyatta, on Wednesday, launched a new firm, Kenya Mortgage Refinance Company, that will be tasked with overseeing his government’s Ksh2 Trillion Affordable Housing project.

Excerpt from Africa Housing Finance Yearbook 2016 Overview Kenya has gradually emerged from political instability and an economic slowdown as one of Africa’s most developed countries and among fastest growing economies in the world. International Investors are optimistic, market sentiments on the Kenyan economy are upbeat (for example, see Deloitte’s economic outlook 2015) and the country.

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The team is also expected to launch the Kenya Mortgage Refinance Company and sign agreements with financial institutions to fund 100,000 housing units in three months.

President Uhuru Kenyatta on Wednesday outlined the progress made so far in his Big Four agenda for economic growth, which he unveiled a year ago.

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Kenya mortgage Refinance Company (KMRC) KMRC’s objective is to help Kenya grow its mortgage finance market for affordable housing by providing medium and long-term liquidity to mortgage lenders. The financier has been incorporated as a Private Limited Company owned by commercial banks and Sacco’s.