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Meet Johnstone Oltetia CEO & MD, Kenya Mortgage Refinance Company (KMRC) | #TheFuse984
Manage episode 428511399 series 2965902
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The Kenya Mortgage Refinance Company (KMRC) is a non-deposit taking financial institution established in 2018 through a Public-Private-Partnership (PPP) and incorporated under the Companies Act 2015. It's role is to provide long-term funds to primary mortgage lenders (PMLs)-Banks and Saccosfor purposes of increasing availability of affordable home loans to Kenyans. KMRC provides concessional, fixed, long-term finance to Banks and Saccos (Primary Mortgage Lenders) so that they can transfer the same benefits to ‘wananchi’, making home loans more accessible, especially to the moderate to low-income earners in the country. KMRC is licensed and regulated by the Central Bank of Kenya (CBK), with the Capital Markets Authority (CMA) providing oversight over its bond issuance operations.
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