NCBA Group has played a leading role in the listing of the Second Tranche of the Kenya Mortgage Refinance Company (KMRC) Medium-Term Note Programme at the Nairobi Securities Exchange (NSE), marking a key milestone in the country’s push to expand affordable housing financing.
The listing, described as a major step in strengthening Kenya’s capital markets, is expected to channel long-term, sustainable funding into the housing sector while demonstrating the growing use of capital markets to address real economy challenges.
As Lead Arranger, NCBA Group supported the structuring and issuance of the Sustainability Bond, reinforcing its role in linking finance to national development priorities.
“As Lead Arranger, NCBA is proud to have supported KMRC in structuring and bringing this Sustainability Bond to market, reinforcing our commitment to enabling solutions that connect finance to national priorities,’ statement on their social media read.
Speaking during the event, NCBA Group Managing Director John Gachora said the transaction reflects the strength of partnerships and the capacity of financial institutions to deliver complex capital market solutions that support Kenya’s long-term growth agenda.
” The transaction reflects the strength of long-standing partnerships and the execution capability required to deliver complex capital market solutions,’he said in a statement.
KMRC Chairman Haron Sirima noted that the listing signals increasing confidence in market-based financing for affordable housing, while National Treasury Cabinet Secretary John Mbadi said it reflects the depth and maturity of Kenya’s capital markets.
The transaction is expected to boost funding for affordable housing while strengthening collaboration between government, financial institutions, and investors in advancing sustainable development.