KMRC appoints former CMA manager Nyale Yanga as CFO

The Kenya Mortgage Refinance Company (KMRC) has tapped capital markets veteran and former Manager for Corporate Approvals at the Capital Markets Authority (CMA), Nyale Yanga, to serve in the capacity of Chief Financial Officer (CFO). Prior to his new assignment, Yanga had been at CMA for sixteen years where, in his position as Manager for Corporate Approvals, he oversaw the compliance of companies with the regulatory financial requirements prior to approval. KMRC’s selection of Yanga as CFO signals the mortgage refinancer’s focus on follow-on capital raising given the 480.0 per cent over-subscription of the first tranche of its unsecured medium-term note which attracted bids worth KES8.1 billion against the KES1.4 billion issuance. KMRC is looking to diversify its funding away from concessional finance hence its venture into the capital markets through debt issuance at the start of 2022. As at August 30, 2022, KMRC had disbursed KES6.9 billion towards affordable mortgages. Yanga assumed the role of CFO at KMRC effective July 1, 2022. [caption id="attachment_8385" align="alignnone" width="225"]

Nyale Yanga[/caption]

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