Nairobi, May 4 -- The Kenya Mortgage Refinancing Company (KMRC) has offered a fixed interest rate of 12.2 percent per annum for an eight-year term for its green bond that targets to raise Sh3 billion, even as it hopes for a tax exemption.

KMRC is seeking to ride on the precedent of Safaricom Plc, which raised Sh40 billion in November 2025 through a sustainability-linked bond at a coupon of 10.4 percent, drawing bids worth Sh41.86 billion, translating to an oversubscription of 177 percent against the Sh15 billion target.

The mortgage refinancer states that, whereas it is confident that the Income Tax Act renders its bond eligible for tax exemption, it is still awaiting confirmation from the Kenya Revenue Authority (KRA).

"As provided in...