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Two financial firms get nod to run real estate trustee services

Housing Finance (HF) managing director Frank Ireri (C) with business operations director Tim Gitonga (R) looking on during a past briefing. Mr Ireri said the licence will enable the firm to increase its non-funded income and diversify its assets. DIANA NGILA (NAIROBI)

By  JOSHUA MASINDE

What you need to know:

  • Housing Finance managing director Frank Ireri said the licence will enable the firm to increase its non-funded income and diversify its assets.

Housing Finance and the Co-operative Bank have become the first two firms licensed to run real estate investment trusts.
This comes as the new investment vehicle takes pride of place at the Nairobi Securities Exchange.

The Capital Markets Authority allowed the two financial institutions to take care of investor’s interests and benefits by working together and overseeing activities of real estate investment trusts managers.

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