Prime

Sh11m mortgage locks out millions of Kenyans

Affordable housing is one of the four pillars of President Uhuru Kenyatta’s agenda for the next four years. FILE PHOTO | NMG

By  GEOFFREY IRUNGU

The average size of a home loan advanced by Kenyan banks has risen by nearly Sh2 million in one year to hit Sh10.9 million, locking even more borrowers out of the housing market.

The Central Bank of Kenya (CBK) sector report released Tuesday says the mortgage increase was mainly driven by a rise in house prices last year.

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