KMRC: Affordable Home Ownership

In this episode recorded on 11.04.2024, our guest host, Rhina Namsia, is joined by Kenya Mortgage Refinance Company (KMRC)’s Finance Manager - Erick Kimanzi Wambua, and Head of Internal Audit - Olive Gitau on a discussion about the path to affordable home ownership.

We also cover KMRC’s business model, KMRC’s rates vs bank rates, initiatives in the informal sector, and the impact of the housing levy on affordable housing.

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Show Notes

00:00:00 Introduction

00:00:53 Affordable Home Ownership and Challenges

00:05:20 KMRC’s Business Model and Facilitating Affordable Housing

00:11:00 Household Income and Loan Limits

00:13:09 Informal Sector Initiatives

00:21:34 Risk-Sharing Facilities, Mortgages, and KMRC Rates vs Bank Rates

00:30:08 Innovative solutions that KMRC has come up with

00:35:49 Subprime Mortgages and Future Outlook

00:41:16 FX Exposure and the Housing Levy Impact

00:47:39 Success Stories

00:52:46 Closing Remarks

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