Kenya Mortgage Refinance Company (KMRC) kicked off in 2019 with a Ksh 200 million grant from Kenyans. KMRC thereafter received credit lines from the World Bank and the African Development Bank. By the close of 2025, KMRC had credit lines of about Ksh 40 billion. Its 2025 financial records show the company had about Ksh 23 billion available for lending. Taita Taveta County can tap Ksh 25 billion through the Diaspora University Town (DUT) job creation, housing development, and GDP growth system. KMRC's balance sheet has grown from Ksh 2 billion (2019) to Ksh 45 billion (2025) and will continue to grow as it issues house mortgages.
The first step in tapping the Ksh 25 billion is to have about 400 Taita Taveta residents or friends of Taita Taveta join DUT as DUT townhouse developers, using DUT–THIDA and bank/SACCO loan. The step-by-step process is explained below.
Example of a banking product in the market. “Get a check-off loan as a government employee, or a company that has an agreement with KCB Bank. The check-off loan of Kes 20,000 up to Kes 10 Million is repayable in up to 120 months (10 years), with monthly repayments remitted by your employer.”
Government employees covered by this banking product include those working in public schools, the judiciary, the County government, public hospitals, national government departments, parastatals, and other government agencies. Taita Taveta County has about 20,000 government employees.
Once the capital is established through the DUT – THIDA and Bank/SACCO loans, the capital will, in accordance with the DUT Master Development Plan (MDP), be applied toward 20,000 job creation, 3,500 townhouse development, and Ksh 20 billion new Gross Domestic Product (GDP) development. The jobs, houses, and new GDP will gradually add Ksh 25 billion to Taita Taveta County over about 5 years, from KMRC funds, reflected as 3,500 townhouse mortgages.
The 400 persons will become DUT townhouse developers through the step-by-step process below. The 400 persons will also become Diaspora University founders, 20,000 job creators, and developers of Ksh 200 billion in new wealth.
STEP BY STEP PROCESS
STEP 1. KSH 750,000 to KSH 3 MILLION
Visit a bank and borrow Ksh 750,00 qacdf0, 1.5 million, 2.25 million, or 3 million through the bank's Personal Unsecured Loan products.
Personal Unsecured Loans in the Voi Market
- KCB Bankhttps://ke.kcbgroup.com/for-you/get-a-loan/unsecured-loan/personal
- Coop Bankhttps://www.co-opbank.co.ke/borrow/personal-loan/
- DTB Bankhttps://dtbk.dtbafrica.com/account/unsecured-loan
- ABSA Bankhttps://www.absabank.co.ke/personal/get-a-personal-loan/#personalloancalculator
- Equity Bank https://equitygroupholdings.com/ke/borrow/personal/equiloan/
STEP 2. DUT-THIDA
Sign a DUT Townhouse Investment and Development Agreement (THIDA) https://dut.or.ke/THIDA2025.pdf and put the money in the Diaspora University Trust account.
At this point, a DUT townhouse developer file will be open.
STEP 3. PAY INSTALLMENTS AS THE DUT DEVELOPS THE TOWNHOUSE
Pay the monthly installments to your bank.
DUT, on the other hand, will develop the townhouse in accordance with THIDA Article 4.
In about 12–48 months, the DUT Design-Build plan will complete the townhouse. https://dut.or.ke/design-build
STEP 4. COMPLETED HOUSE MORTGAGE
Upon completion of the house, get a KMRC mortgage through your bank.
The mortgage at this point can include the Principal Balance of the unsecured loan (Step 1), and the House Development Cost (THIDA Article 4) would be added together.
STEP 5. COMPLETED HOUSE USAGE
The owner can occupy their house and live in a well-planned town with a clean and healthy environment, a University, a level 5/6 university hospital, good basic education schools for children, and other amenities.
If the owner does not live in the house, the owner can lease the house to DUT in accordance with THIDA Article 12 and receive Ksh 65,000 a month.
Using the example in Step 4, the Ksh 65,000 would be applied to pay the monthly mortgage of Ksh 60,352
The difference between Ksh 65,000 and Ksh 60,352 (Ksh 4,648) would be the owner's monthly income.
STEP 6. COMPLETED HOUSE EQUITY
Upon completion, each house will have equity calculated as Sale Price less the mortgage value. The sale prices are recorded in the DUT THD page https://dut.or.ke/thd
- Year 1 Sale Price. Ksh 8 million
- Year 2 Sale Price Ksh 8.5 million
- Year 3 Sale Price Ksh 9 million
- Year 4 Sale Price Ksh 9.5 million
- Year 5 onward Market Price.
Using the Example in STEP 4, a house completed in month 20 would have a sale price of Ksh 8.5 million. This means the equity in the house would be the difference between the Ksh 8.5 million sale price and the Ksh 7,191,686 owed, which equals Ksh 1.3 million.
GDP GROWTH APPROACH
DUT uses the GDP Growth approach, which has grown the U.S. economy from $57 billion to the current $30 trillion. DUT will achieve a GDP of Ksh 20 billion.
