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By Protus Onyango| The Standard
A financial institution with a seed capital of Sh35 billion has been launched to offer cheap mortgages.
President Uhuru Kenyatta launched the Kenya Mortgage Refinance Company (KMRC) as part of efforts to achieve affordable housing, one of his Big Four Agenda.
Borrowers with a monthly income of not more than Sh150,000 per month are eligible for the loans that will be capped at Sh4 million in Nairobi, Kiambu, Machakos and Kajiado and Sh3 million for the rest of the country. Read more…
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