This archive report was first published on 30 August 2021.
On August 30, 2021, Stima Sacco made a significant move to boost home ownership among its members by partnering with the Kenya Mortgage Refinance Company (KMRC).
The sacco will now offer mortgages at 9 percent per annum on a reducing balance for members in formal employment, while those in business or with rental incomes will get the loans at 9.5 percent.
This move makes Stima Sacco one of the pioneers in offering low-cost home purchase loans to its members, with most of them drawn from the energy sector.
