Dr. Pascal Mwambi of Lushangonyi, Wundanyi, Taita Taveta, and Amref International University in Nairobi became a founder of Diaspora University and Diaspora University Town (DUT) with the signing of the DUT Townhouse Investment and Development Agreement (THIDA). He is today a developer of two of the planned 3,500 townhouses that will pull Ksh 25 billion to Taita Taveta County. He also became a founder of Diaspora University and began developing a plan for the Bioethics department to advance the ethics of medical and biological research.
He discussed the Diaspora University development plan and the Diaspora University Town (DUT) development plan with the project director, Dan Kamau. The two agreed that the planned town approach should be embraced going forward to achieve environmental sustainability for ourselves and future generations.
Regarding the DUT development approach, Dan informed Dr. Mwambi that the DUT project's capital input is currently valued at about Ksh 6 billion. The capital comprises assets of Diaspora University Trust, Townhouse Developers, and MSMEs.
Dan said his 2026 goal is to grow the DUT assets past the Ksh 10 billion mark by allocating all 3,500 townhouses to developers through THIDA, increasing the number of MSME agreements, and constructing over 20 buildings. He added that the next stage is to grow the DUT assets to Ksh 200 billion by 2030, comprising the Diaspora University endowment, valuation of 3,500 townhouses, valuation of other properties, and valuation of MSMEs/Organizations.
Dr. Mwambi, who has taken the time to read through the DUT website, stated that as Taita Taveta residents increasingly understand the benefits of DUT, they will become founders of this university and a well-planned town that will benefit generations.
The two then visited the KCB Bank Voi branch, where they met with Branch Manager Benson Mutie. Dr. Mwambi asked the bank manager to help the Voi residents understand the DUT approach and the bank's financial products. He asked the Bank manager to help Taita Taveta tap the KMRC finance through the DUT townhouses development plan.
The two financial products currently offered by KCB Bank that can be applied to the DUT Townhouses development plan are: personal unsecured check-off or non-check-off loan, and the Kenya Mortgage Refinance Company (KMRC) mortgage loan of up to Ksh 10.5 million, 25 years, and 9% interest that is issued through 34 financial institutions that are KMRC's primary mortgage lenders.
The bank manager, upon learning that Dr. Mwambi works at Amref University, stated that Amref University and KCB Bank are in the final stages of an MOU that will enable Amref employees to access the personal unsecured check-off loan.
Dr. Mwambi is today a townhouse developer in the 3,500 DUT Townhouse developer system. The 3,500 DUT townhouse developer system is established and is capable of attracting about Ksh 25 billion to Taita Taveta, about Ksh 7 million per unit.
As a developer of two townhouses, Dr. Mwambi is today part of the people working to bring this money to Taita Taveta. He is asking his fellow scholars at Taita Taveta University (TTU) and other institutions to join DUT and bring this money to Taita Taveta. Scholars also have the opportunity to write founding plans for about 30 academic departments that will have buildings on the university's land.
To the Taita Taveta residents, especially those working in government and companies with which KCB has MOUs, Dr. Mwambi's message is: sign your THIDA, get a personal loan, and be counted in bringing the Ksh 25 billion to Taita Taveta as we create 20,000 jobs, develop a university, and build the first well-planned town in Taita Taveta and Kenya.
KMRC was started in 2019 with capital input from GOK, 20 Kenyan financial institutions, Shelter Afrique, and the World Bank. The company thereafter received two credit lines from the World Bank and the African Development Bank totaling about KSh 40 billion. The amount withdrawn by the end of 2025 was Ksh 35 billion. Ksh 19 billion was applied to fund 5,148 mortgages spread across 39 counties. Ksh 17 billion was held in cash deposited with the following banks: KCB 4.5 billion, HFC 2.1 billion, ABSA 2.5 billion, NCBA 5.7 billion, Coop 2.1 billion.
Another fact is that KMRC was created similarly to Fannie Mae in the U.S. Over the last 90 years, Fannie Mae has grown steadily and today provides mortgage financing of $4.5 trillion. KMRC will grow and, by 2030, could surpass Ksh 500 billion and issue over 200,000 mortgages.
STEP BY STEP PROCESS OF DEVELOPING A DUT TOWNHOUSE WITH KSH 15,000
STEP 1. KSH 750,000
Visit a bank and borrow Ksh 750,000 through the bank's Personal Unsecured Loan products. Some of the Bank products that will make the loan repayment below Ksh 15,000 a month are:
KCB Bank Personal Unsecured Check-Off Loan
https://ke.kcbgroup.com/for-you/get-a-loan/unsecured-loan/check-off
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.
Coop Bank Personal Unsecured Check-off Loan
https://www.co-opbank.co.ke/borrow/personal-loan/
Minimum loan amount of Ksh 50,000. Maximum loan amount: KES 10,000,000. Maximum term of up to 132 months (11 years)
DTB Bank Personal Unsecured Loan
https://dtbk.dtbafrica.com/account/unsecured-loan
Check off Non-Check loan, unsecured loan. Minimum Kes 50,000 up to Kes 6 Million. Tenor 96 months (8 years).
ABSA Bank Personal Unsecured Loan
https://www.absabank.co.ke/personal/get-a-personal-loan/#personalloancalculator
Borrow up to KES6,000,000 with no collateral required as security. Flexible repayment options up to 96 months
Monthly Payments of Loans based on 16% Interest
Based on a 16% interest rate, the monthly payments for the maximum loan period would be: Co-op Bank, Ksh 12,107; KCB Bank, Ksh 12,563; DTB, Ksh 13,897; and ABSA, Ksh 13,897.
Note that the bank's interest rate would determine the actual amount.
STEP 2. DUT-THIDA
Sign a DUT Townhouse Investment and Development Agreement (THIDA) https://dut.or.ke/THIDA2025.pdf and put the Ksh 750,000 in the Diaspora University Trust account.
At this point, a DUT townhouse developer file will be open and will start developing one townhouse.
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.
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).
The table in step 1 illustrates how the principal balance is incorporated into a mortgage.
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.
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.
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.
