KCB Group has entered into a partnership with the Geothermal Development Company that will see the lender increase its mortgage portfolio. The agreement between the two firms will see GDC employees across the country access housing loan facilities at affordable interest rates for a maximum of 20 years as per the Salaries & Remuneration Commission Circular dated 17th December 2014. This will enable them buy readymade houses, undertake construction of own homes, purchase plots and enjoy equity release facilities. KCB Group chief operating officer Samuel Makome said the cash-backed scheme arrangement is one of the innovative ways that KCB Bank has developed through partnership with institutions, to facilitate affordable long-term mortgage financing that allows single digit borrowing. KCB is keen to roll this programme out to other corporates as well as county governments as an initiative towards the achievement of the delivery of 500,000 units through affordable mortgage financing.

Source: The Star April 17, 2018 21:00 UTC