State mortgage firm picks advisers for debut cash call
Summary
KMRC chief executive Johnson Oltetia said the consultants were considering “a number of market factors” before settling on the amount to be raised, the return to be offered to investors and the repayment period.
Monday May 03 2021
By CONSTANT MUNDA
Summary
KMRC chief executive Johnson Oltetia said the consultants were considering “a number of market factors” before settling on the amount to be raised, the return to be offered to investors and the repayment period.
State-backed Kenya Mortgage Refinance Company (KMRC) has appointed three advisers to guide its planned debut bond issue whose proceeds will be channelled to banks and Saccos for affordable home loans.
Stanbic Bank partners with Ministry of Industrialization in a bid to support the MSME sector
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Stanbic Bank and Stanbic Kenya Foundation have signed an MoU with the Ministry of Industrialization, Trade and Enterprise Development in a bid to support Kenya’s Trade and Industrialization agenda as well as the MSMEs Sector in Kenya.
This move comes at a time when Kenya is in trade dialogues with various partners to prioritize industrialization as a key Big 4 agenda, while still recovering from the negative impacts of the global COVID 19 pandemic.
Speaking during the signing ceremony, the Cabinet Secretary for Industrialization, Trade and Enterprise Development, Hon. Betty Maina said, “SMEs play a vital role in driving economic growth and development and contribute to over 36% of the GDP. We must therefore support them through various intervention programs that allow them to reach their full potential. One of the government’s key focus is to partner with able players, especi
KMRC credit to mortgage lenders hits Sh2.8 billion
Monday March 15 2021
By BRIAN NGUGI
Summary
KCB accounts for the bulk of the lending at Sh2.12 billion, followed by HF at Sh515 million. Others include Stima Sacco (Sh69million), Tower Sacco (Sh30 million) and Bingwa Sacco (Sh27 million).
KMRC chief executive Johnstone Oltetia told the Business Daily that the company is also reviewing a pipeline of 337 mortgages worth Sh979 million from a number of lenders.
The Kenya Mortgage Refinance Company (KMRC) has so far advanced Sh2.76 billion in credit to mortgage lenders, accounting for about seven per cent of the fund’s total capital pool.
THE STANDARD By
Dominic Omondi |
February 12th 2021 at 12:30:00 GMT +0300
A Kenya Airways plane taking off from Jomo Kenyatta international Airport(JKIA)in Nairobi, despite heavy loss-making in the market. [File, Standard]
The government will inject Sh26.5 billion into cash-strapped Kenya Airways (KQ) as part of its plan to nationalise the airline.
In a mini budget released this week, the National Treasury said the cash will be in the form of a shareholder convertible loan.
In total, Treasury has set aside Sh27 billion for strategic investments in public enterprises.
The remaining Sh500 million will go to the Agricultural Finance Corporation.
KQ’s recapitalisation will be a big win for banks which own about 38 per cent of the airline.
THE STANDARD By
Peter Theuri |
January 27th 2021 at 00:00:00 GMT +0300
Senior citizens queue for their monthly stipend at the Matungu-Sub-county headquarters in Kakamega County. Beneficiaries receive on average Sh2,000 monthly. [Benjamin Sakwa, Standard]
People aged 70 and above left out of past government cash disbursement programmes will now be considered in this year’s Sh3 trillion budget.
The National Treasury has at the same time come up with a social assistance fund to mobilise more resources to fund such programmes.
“(The ministry is) cognizant that elderly left out from the programme are affected, especially during difficult times of Covid-19,” says Treasury in the draft 2021 Budget Policy Statement.