The Kenya Mortgage Refinance Company (KMRC) today listed its shs3 billion Sustainability Bond at the Nairobi Securities Exchange (NSE), after the issuance attracted applications worth shs9.38 billion, an over-subscription rate of 312.8 percent. The listing marks the second successful tranche under the Company’s approved shs10.5 billion Medium-Term Note Programme. It follows the Company’s inaugural Shs1.4 billion issuance in 2022, which attracted applications worth Shs8.5 billion.
Proceeds from the Sustainabil
Refinanced over Shs30 billion in home loans
Supported more than 5,800 homeowners
Expanded its reach across 39 counties
Advanced inclusive homeownership, with nearly half of refinanced loans benefiting women.
By providing long-term liquidity to primary mortgage lenders, KMRC supports fixed-rate, single-digit home loans with longer repayment periods, helping reduce monthly repayment burdens for qualifying borrowers.
KMRC Board Chairman Dr. Haron Sirima said the listing demonstrates the power of capital-market instruments in financing development outcomes.
“This listing reflects growing confidence in KMRC’s mandate, governance, and long-term contribution to Kenya’s housing sector. It demonstrates that affordable housing can be supported through market-based instruments that deliver financial returns alongside measurable social and environmental impact,” said Dr. Sirima.
NCBA personal loans offer borrowers financing of as low as Sh50,000
Hon. John Mbadi, Cabinet Secretary for the National Treasury and Economic Planning, underscored the national significance of the milestone.
“The successful issuance and listing of this Shs3 billion Sustainability Note is a national milestone. It signals a decisive shift in how we mobilize capital to finance development priorities, particularly housing. It also affirms that Kenya’s capital markets are deepening, diversifying, and maturing in line with our long-term economic aspirations,” said Hon. Mbadi.
NCBA Group Managing Director, speaking at the listing said, “The successful listing of KMRC’s Sustainability Bond reflects the strength of long-standing partnerships and the importance of execution expertise in delivering complex capital market transactions. As Lead Arranger, NCBA is proud to have supported KMRC in structuring and bringing this transaction to market, mobilizing long-term funding for Kenya’s affordable housing sector. This builds on our continued collaboration with KMRC across multiple structured finance transactions. Our integrated Corporate and Investment Banking and Investment Bank teams bring strong technical expertise and market insight, reinforcing our role as a trusted advisor in delivering impactful, sustainable financing solutions.”
