Stima SACCO has partnered with the Kenya Mortgage Refinance Company (KMRC) to offer an affordable Housing Mortgage Scheme to its members. In a story published by the Exchange, the scheme will target individuals in both formal and informal employment.
This is great news for the SACCO sector. Kwara lauds this partnership as it is a sure driver of wealth creation for the SACCO members. More SACCOs should work to create such purposeful partnerships so as to impact their members positively. This creates avenues for investments and growth.
KMRC has since set aside Sh7 billion for lending to Primary Mortgage Lenders (PMLs) in the financial year 2021/22. It aims to achieve its mandate of boosting home ownership rates through issuance of affordable mortgages.