This archive report was first published on 30 September 2019.
On September 30, 2019, I&M Bank and Tatu City announced a partnership to make property financing more accessible to Kenyans.
The Memorandum of Understanding between the two companies will enable eligible buyers to purchase serviced land or finance construction of homes and businesses.
Under the agreement, I&M Bank will offer mortgage finance solutions with repayment periods of up to 20 years and interest rates not exceeding 12 percent per annum.
I&M Bank CEO Kihara Maina stated that the partnership will enable Kenyans to own a home, catering to client needs such as property purchase, undeveloped plots, construction, and renovations.
Tatu City, a 5000-acre development, features an operational central business district, over 30,000 homes, parks, green spaces, leisure, and medical centers, hosting approximately 150,000 residents and more than 30,000 daily visitors.
