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42 banks, saccos bid for KMRC home loans
Kenya Mortgage Refinance Company (KMRC) CEO Johnstone Oltetia addressing participants during the Annual General Meeting (AGM) of Nation DT Sacco at St. Andrews Church in Nyerere Road, Nairobi on February 15, 2025.
The Kenya Mortgage Refinance Company (KMRC) is reviewing documents from 42 commercial banks and saccos for eligibility to start accessing funds for onward lending to potential home buyers after the firm opened to non-shareholding lenders last year.
A confidential expression of interest document seen by the Business Daily shows that two tier-one commercial banks are among 13 lenders waiting to start getting long-term loans from KMRC to start offering subsidised mortgages. The list also contains 29 saccos.
