Rosinah Kitatu, the Director of St Jude School in Voi, visited the Diaspora University Town (DUT) project in 2025. She would understand the DUT project, which is focused on advancing university education, creating jobs, developing housing, and boosting GDP growth. Today, she is rallying Voi and Taita Taveta residents to become DUT townhouse developers and achieve Ksh 25 billion for Taita Taveta from Kenya Mortgage Refinance Company (KMRC). She says this achievement is for the future of Taita Taveta children.
KMRC was launched in 2019 with KSh 200 million in funding from Kenyan taxpayers. The company, through capital and credit lines, has, by the close of 2025, achieved Ksh 45 billion in financing. The 2025 financial records show that Ksh 19 billion is loaned out and Ksh 17 billion is held in cash. A borrowing of Ksh 35 billion from the credit lines of about Ksh 40 billion from the World Bank and the African Development Bank. A story published in the Business Daily on 11th March 2026 reported that the company planned to raise Ksh 40 billion through a green bond in April 2026.
KMRC is structured similarly to Fannie Mae & Freddie Mac in the U.S., and, just as these U.S. businesses have progressed to finance $7.5 trillion in housing mortgages (about Ksh 900 trillion), KMRC will have the capacity to raise capital to finance housing mortgages on an increasingly larger scale. This means Ksh 25 billion can be tapped from KMRC in the next 5 years to come to Taita Taveta.
To bring Ksh 25 billion to Taita Taveta, DUT is welcoming Voi and Taita Taveta residents to become developers of a 5-bedroom, 4-bathroom DUT townhouse by investing about Ksh 15,000 per month through the DUT THIDA system. The DUT Master Development Plan (MDP) is ready to deliver Ksh 25 billion to Taita Taveta through the 3,500 townhouses development, 15,000 job creations, and Ksh 15 billion in GDP growth.
The 3,500 townhouses will be financed through the KMRC mortgage product, advanced by banks and SACCOs, which are the primary mortgage lenders. As the DUT-MDP achieves 3,500 townhouses, 15,000 jobs, and a Ksh 15 billion GDP, the Ksh 25 billion will flow from KMRC to Taita Taveta.
The Ksh 25 billion will be part of financing about 100 million human resource hours as persons produce materials and construct. As 20,000 new jobs are created, the consumption of goods and services will increase, and Voi businesses' revenue will rise. For example, a Voi business generating Ksh 20 million in revenue will see its revenue grow past Ksh 30 million.
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.
