Kenya's Oldest Mortgage Lender Wants to Jettison Its Entire Book
- HF wants to free up cash to immediately start lending again
- Kenya is busy setting up agency to finance mortgage providers
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Kenya’s oldest stand-alone mortgage provider plans to offload its entire home-loans book only to build it up again.
HF Group Ltd. expects to benefit from the government’s push to construct 500,000 affordable homes over the next five years to try narrow a shortfall at least five times that size. The government is creating Kenya Mortgage Refinance Co., which will provide funding to lenders, and allow companies like HF Group to sell existing loans to the new entity to free up capital, Chief Executive Officer Sam Waweru said.