President Uhuru Kenyatta on Wednesday officially launched the Kenya Mortgage Refinance Company (KMRC) in a bid to give Kenyans affordable housing, this is one of the Presidents big four Agenda.
According to the statehouse statement, the KMRC initiative is a public-private partnership that will go a long way to address the current housing deficit experienced in the country.
"President Uhuru Kenyatta today launched the Kenya Mortgage Refinance Company, an initiative which is a partnership between the Government and the private sector. The President said the country is making progress in the quest for the transformation of the lives of her people," reads a tweet by State House.
However, lawyer Miguna Miguna has questioned the government on which laws were followed in the process of coming up with KMRC.
He wanted the government to come clear on the ratio shared between the public and the private sector. Furthermore, he wanted the names of private investors to be made public.
"Which law established the Kenya Mortgage Refinance Company that Uhuru Kenyatta launched today? What percentage of the company does the public own? Who are the "private investors," who chose them and on what criteria? How is the public interest protected?" reads a tweet by lawyer MNiguna Miguna.