Refinance News

Kenya Mortgage Refinance Company to raise 5 billion shillings to help drive mortgage lending – Footprint to Africa

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The ever-growing demand for student accommodation will help drive real estate sector growth in Kenya, Zambia and South Africa in 2019, a new report has revealed. In Kenya alone, the number of students is growing exponentially and current hostels cannot keep up with demand. According to the Kenyan National Bureau of Statistics, the number of

New Kenyan body to help drive mortgage lending aims to raise 5 bln shillings By George Obulutsa. NAIROBI (Reuters) – Kenya’s new mortgage refinancing company, set up to help the many would-be homeowners who struggle to secure a mortgage, aims to raise 5 billion shillings ($49.41 million) on the capital markets in the next year or two, its chief executive said.

In Kenya, mortgage lenders are banks, with KCB and Standard Chartered being the leading banks in mortgage lending as per the Residential Mortgage Survey by Central Bank of Kenya, as well as one mortgage finance institution, I.e., Housing Finance. Mortgage refinancing works by: Borrowers cede their property as security for a long-term mortgage loan,

 · The prize both are chasing is sub-Saharan Africa’s mostly unbanked 1 billion population and the companies there looking for capital to grow. Economies are growing on average at 5-7 percent a year, the fastest expansion in a generation, offering lucrative returns for lenders who get it right.

East Africa Foreign Exchange Rates News Monitoring.. communication and technology said on Tuesday that the government had set aside 1 billion shillings (US$9.90 million) to help local start-ups in the mobile telephone software and hardware segments to grow.. Spend quality time with like-sized companies to discover how to drive agility.

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NAIROBI, May 21 (Reuters) – Kenya’s new mortgage refinancing company, set up to help the many would-be homeowners who struggle to secure a mortgage, aims to raise 5 billion shillings ($49.41 million) on the capital markets in the next year or two, its chief executive said.

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kenya mortgage refinance Company (KMRC) is an initiative by the National Treasury and Investors to provide cheap financing to mortgage lenders. KMRC as a non deposit taking institution was officially launched by his Excellency president uhuru kenyatta early this week to help in tackling the.