New NBK-Centum Deal Opens Door to Home Ownership for More Kenyans

The National Bank of Kenya and Centum Real Estate have entered into a partnership which is aimed at increasing access to home ownership and property investment opportunities for Kenyans.

The partnership was unveiled during the signing of a Memorandum of Understanding (MoU) in Kilifi County and will provide customers with financing options for home purchases, land acquisition and also construction projects.

Speaking at the signing ceremony, NBK Managing Director George Odhiambo said the partnership reflects a shared commitment to supporting homeownership and real estate investment.

“The partnership we are formalizing today represents a shared commitment to enabling home ownership, supporting investment in real estate, and providing customers with tailored financial solutions that help them achieve their aspirations,” said Odhiambo.

Property Ownership

He noted that NBK would leverage its financial expertise and customer network alongside Centum Real Estate’s property development experience to make property ownership more accessible to a wider segment of Kenyans.

Centum Real Estate, through its Vipingo Development project, said the partnership seeks to simplify the journey to homeownership by connecting quality housing with predictable financing options.

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General Manager of Vipingo Development Martin Kariuki said the initiative is intended to help more Kenyans view homeownership as an achievable goal rather than a distant aspiration.

According to the partners, the financing model encourages prospective buyers to focus on what they can comfortably afford in monthly repayments instead of concentrating solely on the total purchase price of a property.

Investor Feature

As an illustration, the companies said a studio apartment valued at Ksh 2.7 million can be financed through manageable monthly instalments, potentially lowering the entry barrier for first-time homebuyers and property investors.

The partnership also introduces an investor-focused feature under which buyers will begin servicing their mortgages only after their housing units have been completed and handed over. This arrangement allows investors the opportunity to earn rental income before commencing loan repayments.

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Access Bank Regional Managing Director for East Africa and Country Managing Director for Kenya, Ralph Opara, said the collaboration reflects a commitment to supporting property ownership, investment and sustainable economic development by leveraging the financial strength and regional reach of the Access Bank Group.

NBK and Centum Real Estate said the partnership is expected to broaden access to property ownership and investment opportunities while contributing to wealth creation and supporting Kenya’s wider economic development agenda.

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National Bank Of Kenya
PHOTO/NBK