State-backed mortgage firm triples home loans to Sh7bn

kmrc

KMRC chief executive Johnstone Oltetia. PHOTO | DIANA NGILA | NMG

The State-backed mortgage refinancing firm will triple affordable home loans to Sh7 billion in the year started July, offering a boost to workers push for house ownership.

The funds will be offered to banks and savings and credit cooperative society (saccos) this fiscal year, representing a 154.73 percent jump from the Sh2.748 billion a year earlier, the Kenya Mortgage Refinancing Company (KMRC) said.

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