Home financing could be the panacea to the perennial problem of affordable housing in the country.
And, going by the enthusiasm with which financial institutions have embraced a company established to spearhead home financing, there could be light at the end of the tunnel for many Kenyan families hoping to have a home of their own.
Banks, pension schemes, fund managers and other financial institutions have traditionally been cagey about doing business with the State, unless investing in government securities.
However, the zeal with which they are lining up to subscribe to shareholding in the newly-established Kenya Mortgage Refinancing Company (KMRC) has raised hopes that a solution to the country’s perennial housing problem could be in the offing.
With housing being part of President Uhuru’s Big 4 Agenda, in which the government aims to provide at least 500,000 affordable new houses by 2022, the jigsaw puzzle of closing the financing gap for majority of Kenyans is falling in place.
By NJIRAINI MUCHIRA
Read more at:https://www.nation.co.ke/news/Home-financing-firm-seeks-to-drive-affordable-housing-plan/1056-4719972-5sxh01/index.html