Hundreds of GDC staff will soon be able to access housing mortgages following a pact signed yesterday between the company and a local mortgage provider.
The move by GDC and Kenya Commercial Bank, has now given staff a leg-up on to the country’s real estate ladder where they will access mortgages at a rate of 3 per cent.
“This facility we are signing today will enable GDC employees access affordable mortgage financing from Kenya Commercial Bank at affordable rates for a maximum of 20 years,” said KCB Group Chief Operations Officer Mr. Sam Makome during a brief signing ceremony at Kawi House yesterday morning.
The General Manager, Human Resource and Administration Mr. Simon Kiplang’at who represented the Managing Director & CEO Eng. Johnson P. Ole Nchoe, said that availability of mortgage scheme now ushers a new phase for GDC staff.
“Today marks a significant journey for GDC. This facility has since been endorsed by the GDC Board of Directors and it’s very dynamic,” stated Mr. Kiplang’at who was flanked by Deputy Manager, Finance Mr. Raphael Mailu and a section of staff.
Mr. Makome added that the bank’s partnership with GDC marks yet another milestone in its resolve to seek out strategic partnerships with like-minded organisations as a way of deepening financial inclusion across the East African region.
“The KCB partnership with GDC demonstrates commitment to the country’s housing sector through the Public Private Partnership model, to reduce the acute housing deficit,” he said.