SACCOs, Mortgages & The Kenyan Dream: Reflections from the KMRC, SASRA & FSD Webinar
By Ecostacs Consulting Ltd
Ecostacs Consulting Ltd had the pleasure of attending Last week's (November 19, 2025) webinar, a wonderfully insightful session hosted by FSD Kenya, Kenya Mortgage Refinance Company (KMRC), SACCO Societies Regulatory Authority (SASRA) and AIS Capital. The theme was affordable housing, SACCO data and mortgage refinancing, essentially the kind of conversation that gets regulators excited, consultants curious, and SACCOs wondering whether they should start offering safety hard hats along with loan application forms.
The discussion opened with FSD Kenya, who reminded us that Kenya is among the first country in Africa to formally bring SACCOs into the mortgage refinancing ecosystem through KMRC. A proud moment for the sector, because while Kenyans have been building houses “pole pole” for decades, this is the first time the system is now catching up to how people actually finance their homes.
SASRA’s CEO, CPA David Sandagi, offered a panoramic view of where the SACCO sector stands today. With total assets now past Kes. 1.2 trillion and over Kes. 550 billion already disbursed, out of which 26%, approximately Kes. 130 billion, has gone into land and housing, he made it abundantly clear that SACCOs are not small players trying to join the housing party, they are already the ones paying for the DJ, the tent, and possibly the dinner. In fact, roughly a quarter of SACCO lending goes straight into land and housing, cementing their role (pun mildly intended) in enabling home ownership.
Mr. Sandagi also reaffirmed the importance of SACCOs entering the KMRC refinancing pipeline. By supporting members to purchase land and progressively build homes, SACCOs are proving that the Kenyan dream is often built one loan, one stone, and one payslip at a time. His acknowledgement of the partnership among SASRA, FSD Kenya and KMRC set the tone for a conversation that blended data, policy and a bit of quiet optimism.
KMRC’s representative expanded the picture, explaining that approximately KES 24 billion worth of mortgages have already been refinanced. The organisation is now widening the list of participating institutions, and rightly so. SACCOs are regulated, trusted and uniquely embedded in communities, which means they naturally understand their members’ needs, aspirations, and preferred building schedules; from “I will build this year” to “I will build when God touches my heart”.
AIS Capital then took the floor with a detailed walk-through of their study on SACCO roles in housing finance. Their analysis covered everything from product design to member affordability challenges, and their insights were both enlightening and sobering. For example, most SACCO members earn under KES 100,000 a month, meaning mortgages and construction loans must match the practical realities of Kenyan life, not just spreadsheets and policy frameworks. A payslip demonstration also showed how rising statutory deductions are slowly turning employees into experts in financial acrobatics.
The study further revealed that plot purchase still dominates housing-related loans. In simple terms: Kenyans will buy a plot today and start building when the economy, the government and their pockets all agree. Meanwhile, awareness of KMRC-backed mortgages remains modest, and many members have no idea they could actually access cheaper, longer-tenor loans through their SACCOs.
Loan processes also need some due attention. While emergency loans fly out in days, property-backed loans sometimes take weeks or months, which can make members feel like their dream home is stuck in Nairobi traffic. Add valuation fees, construction cost escalations, and the occasional contractor who disappears with cement money, and it becomes clear why housing finance must be both robust and member-friendly.
Yet for every challenge mentioned, the presenters offered practical recommendations, from incremental construction products to buy-and-build mortgages, joint applications to support women, and even partnerships to help members avoid costly construction overruns. These are sensible, member-centric innovations that could transform the affordability puzzle into a clear roadmap.
At Ecostacs Consulting Ltd, we found the discussions energising because they align perfectly with what we help SACCOs achieve every day: clearer strategy, stronger governance, better risk management, more effective staff teams and sharper understanding of member needs. Whether it’s helping boards make long-term housing decisions, supporting management to align product strategies, or training staff to improve member awareness, our work fits naturally into Kenya’s affordable housing journey.
If there is one message that echoed throughout the webinar, it is this: SACCOs hold immense potential to shape the future of housing in Kenya. With data-driven insights, regulatory support and thoughtful product innovation, they can bridge the gap between aspiration and reality for millions of members.
As the sector evolves, Ecostacs Consulting Ltd remains committed to walking alongside SACCOs and regulators, ensuring that well-designed strategies actually translate into roofs, walls and dreams fulfilled. Because in the end, housing is not just about structures, it is about dignity, stability and human progress, one member at a time.
