Broderick O. Ogange (BOO), the former headmaster of Kanunga High School in Kiambu, is challenging teachers, Kanunga Alumni and Kenyans to make Kenya Mortgage Refinance Company (KMRC) money productive. When reaching out to Dan Kamau, the Diaspora University Town (DUT) project director, Mr. Ogange learnt that Ksh 16 billion is available for housing mortgage finance. After Dan told him how DUT is inviting teachers, government employees and Kenyans to make this money productive through job creation and housing development, Mr. Ogange, a career teacher, said this is something everyone should embrace, especially teachers and Kanunga Alumni.
Dan was excited to talk to Mr. Ogange who is currently at his home next to Lake Victoria in Migori County. He thanked the headmaster for the Kanunga high innovative education that he is applying today to advance the DUT project. He informed Mr. Ogange that KMRC is a mortgage refinance company whose purpose is to finance residential housing. He said that KMRC adopts systems similar to those that created Fannie Mae in the U.S in 1938 and later Freddie Mac in 1968. These two U.S. companies have assets of about $7. 5 trillion that have financed mortgages.
KMRC, since its kickoff in 2019, has grown its assets to reach Ksh 46 billion according to the financing statements of 30th June 2026. Ksh 24 billion are mortgage advances assets and Ksh 16 billion are cash or cash equivalents assets. Dan informed Mr. Ogange that the Ksh 16 billion cash asset should be converted to mortgage advances so more Kenyans can have housing access. He talked about how Ksh 25 billion from KMRC will come to DUT and finance 3,500 townhouses planned. He added that KMRC Company's assets will continue to grow and reach Ksh 500 billion or Ksh 1 trillion as houses are produced and financed.
The former headmaster understood the approach, which includes teachers utilizing products available in the banking sector as they play a role in job creation and Kenya's development. He said this is something that should be embraced and committed to spending time passing the message to Kenyans, especially the employed teachers.
Currently there are 1 million government employees in Kenya made up of about 400,000 teachers, 200,000 healthcare professionals, 100,000 police officers, and 300,000 persons in other sectors. From the taxes levied, Kenyans are currently paying about Ksh 1.2 trillion toward this budget.
On the other hand Banks in Kenya when looking to generate revenue from the yearly Ksh 1.2 trillion have developed good financial products for the government employees. For example at KCB Bank persons employed in government can get a personal unsecured check-off loan of up to Ksh 10 million for a period of up to 12 years. Banks understand that government employees cannot default on loans because their pay is guaranteed by taxpayers through the yearly government budget.
Dan informed his former teacher that this creditworthiness, when applied, is an asset that can create billions of shillings of capital for Kenya's development and expand banking assets. He compared the total assets of two Canadian banks, totaling $3.7 trillion to the total assets of all banks in Kenya, which total Ksh 8.5 trillion (about $65 billion). He said that Kenyans need to take more loans to advance development. Currently, Kenya has a housing deficit of about 7 million units. At an average of Ksh 7 million a housing unit, this would grow the banking sector by Ksh 50 trillion.
Dan added that teachers when using the DUT system can grow their wealth as they create jobs and develop houses for the children in their classrooms. Today 25 million of Kenyans are aged below the age 20 years. They will pass through schools and eventually become adults seeking jobs and a good place to live in. Mr. Ogange's challenge to teachers is to create jobs and become developers of houses for these growing children. DUT system is ready.
WHATSAPP Dan Kamau +254 743 203 168 or EMAIL dan@dut.or.ke
JOINING DUT ILLUSTRATION
A Teacher/Government Employee or Kenyan can use the DUT system and available banking products to develop a DUT Townhouse. This illustration shows how a Government employee can apply Ksh 11,632 a month of their pay to earn Ksh 1 million by becoming a DUT townhouse developer.
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For every Kenyan family to achieve good housing over 20 million formal jobs need to be created and 7 million housing units developed in the next 10 years (by 2035), as Kenya's population grows to 65 million. The DUT system and its developers will create as many jobs as possible and develop as many houses as possible. For example a developer who sells a DUT townhouse unit and achieves Ksh 1.3 million will have the opportunity to build more housing units and grow their wealth using the DUT job creation and housing development system.
FREQUENT ASKED QUESTIONS (FAQ) & ANSWERS
CONTACTS
Dan Kamau +254 743 203 168
Ronald Mwangombe +254 704 494 185
Lucy Malemba +254 723 898 827
Naomi Masawi +254 759 952 559
