Browsing: National Housing Development Fund (NHDF)

• Tax reforms proposed in the bill have aroused concerns due to their potential to increase costs and financial burdens across the board.
• A positive proposal in the Bill for the housing sector is the removal of the excise duty rate on cement clinkers.
• Some of the Finance Bill proposals highlighted reflect the government’s attempts to promote affordability, stimulate construction, and streamline property transactions in the housing sector.

The Finance Bill 2024 has become the focal point of discussions across Kenya, capturing the attention of individuals and businesses alike. This widespread interest stems from the significant and far-reaching impact the proposed bill could have on various sectors and the daily lives of Kenyans. 

The comprehensive tax reforms proposed in the bill have aroused concerns due to their potential to increase costs and financial burdens across the board. With the prospect of higher taxes on fuel, motor vehicles, and digital services, many …

Kenya has unveiled a mortgage refining facility-Kenya Mortgage Refinance Company (KMRC), a short in the arm in President Uhuru Kenyatta’s affordable housing scheme under the Big Four Agenda.

KMRC is a non- deposit taking financial institution under the supervision of the Central Bank of Kenya (CBK).

The company was incorporated on April 19, 2018 with the single purpose of providing long-term funds to primary mortgage lenders (banks, micro finance banks and saccos) in order to increase the availability and affordability of mortgage loans to Kenyans.

READ:Mortgages more unaffordable as Kenya house prices increase in 2018

KMRC shareholders and funding

The company was established as a private public investment with majority ownership by the private sector at 80 per cent and government 20 per cent. Its current shareholders comprise: the national treasury and planning; eight (8) commercial banks; eleven (11) deposit taking Savings and Credit Co-operatives (Saccos) and one (1) …