History

1913

The Kenya Building Society Limited (KBSL) was founded and was the earliest building society in Kenya set up to serve the needs of the immigrant communities.

1956

KBSL was registered under the Companies Act. In 1956, the constitution was changed and therefore on 11th September 1956 KBS was registered under the Building Societies Ordinance of 1956 with its Head office located at Kenwood House along Hardinge Street (now Kimathi street).

1965

Inception

Housing Finance Company of Kenya was incorporated as the premier mortgage Finance Institution in Kenya licensed under the Banking Act with the CDC and the GoK owning 60% and 40% respectively.

1966

Operations

  • Housing Finance started operations with the main objective of implementing the government’s policy of promoting thrift and home ownership by lending funds advanced from First Permanent East Africa Limited (FPEA)
  • Operations were restricted to the zoned residential areas within Nairobi and Mombasa. 
1968

Deposits of FPEA in Kenya were transferred to HFCK while the Tanzanian and Ugandan deposits were transferred to The Permanent Housing Finance Company of Tanzania and the Housing Finance Company of Uganda respectively.

1970

On 1st January 1970, HFCK acquired the whole shareholding of the FPEA thereby acquiring the latter’s wholly owned subsidiary Kenya Building Society.

In January 1970, HFCK moved its headquarters to the newly acquired Portal House (now Alyusra House) on Library Street, off Portal Street (now Banda Street) for use as the Head Office and banking hall.

1971

The new office space soon proved to be inadequate and therefore on 1st June 1971, HFCK increased its administrative offices by taking over a whole floor of the adjacent Nanak House along Kimathi Street.

1973

Buru Buru Estate is commissioned

Buru Buru Estate was commissioned in 1973 by the then Mayor of Nairobi, Margaret Kenyatta.

1973

Buru Buru Estate is commissioned by the then Mayor of Nairobi Miss Margaret Kenyatta.

1974

Completion of Buru Buru phase 1 comprising of 926 houses.

1974

Buruburu phase I comprising of 926 houses was completed in 1974

1975

The construction of Rehani House, the current Head Office at the junction of Kenyatta Avenue and Koinange Street commenced in 1975 and the building was completed in 1978.

1977

Buruburu phase III comprising of 625 houses and was completed between 1977 and 1978

1979

HFCK continued mobilizing deposits through Savings and Deposit accounts and also introduced other products including the Fixed Term Deposit Accounts. HFCK’s branch network stood at 3 branches in Nairobi, Mombasa and Nakuru and 1 agency, Thika Agency

1980

HFCK’s slogan transitioned from ‘In Pursuit of Shelter’ to ‘The Rock of Kenya’ in the late 1980s to inspire confidence amongst its customers and general public.

1987

Prince Charles visited Buru Buru Estate

1987

On the 31st March 1987, Prince Charles’ visited Buruburu estate when he was on a 3-day tour in Kenya to view CDC projects as one of the directors

1988

The construction of Komarock housing project commenced.

1990

The final phase of Komarock was completed in 1990

1992

In October 1992, HFCK offered part of its equity (18,000,000 new ordinary shares) up for sale to the public at Kshs. 7 and became a quoted company on the Nairobi Stock Exchange.

The issue was more than three times oversubscribed.

1994

KBSL continued developing the Komarock estate in the 90s with Komarock Phase II consisting of 197 two and three bedroom houses being ready for sale on 10th February 1994

1996

KBSL finished the construction of estates outside Nairobi, that is, 100 houses at Fahari Estate in Bamburi / Mtopanga, Mombasa

1998

HFCK events organized Kenya’s first Housing Exhibition in 1998 and 1999 at the Kenyatta International Conference Centre which brought together players in the real estate industry.

1999

Building of Komarock Phase V was completed

2001

3rd July 2001, HFCK’s MD Mr. Peter Lewis-Jones launched a Property Shop on the 8th floor of Rehani house whose purpose was to enable customers purchase property through HFCK.

2001

3rd July 2001, HFCK’s MD Mr. Peter Lewis-Jones launched a Property Shop on the 8th floor of Rehani house whose purpose was to enable customers purchase property through HFCK.

2002

6th March 2002, rebranding from Housing Finance Company of Kenya to the vibrant and aptly named Housing Finance (HF) - a company built on the strength of the old yet clearly focused on availing new housing solutions to homeowners and meeting the growing housing challenges.

2006

Frank Ireri was appointed the HF’s MD on the 1st of July 2006.

2007

In March 2007, HF set up a Project Finance team to provide solutions and financing for the growing base.

On the 11th July 2007, CDC Plc – the single largest shareholder in HF at the time - sold its 24.9% interest in HF to Equity Bank Limited and British American Investment Company Limited (BAICL).

The shareholding stood at 7.32% GoK, 20.0% EBL, 4.9% BAICL, 7.87% NSSF and 59.91% to the public. Property Point, a one-stop shop for property developers, estate agents, suppliers of housing and construction materials and property buyers to acquire property under one roof, was set up.

 

2008

HF entered into an agreement with the GoK through the Ministry of Housing to provide mortgages at subsidized rates to the civil servants through the Civil Servants Mortgage Scheme opening the door for thousands of civil servants across the country to access mortgages.

2010

HF successfully raised Kshs. 7B - which was the first tranche of a Kshs. 10B offer - from the bonds market to fund business growth. The Bond was oversubscribed by 41% from the original target of Kshs. 5B.

2012

KBSL - which had been scaled down to a Unit within HFCK - was revived and immediately embarked on the construction of Komarock phase 5A

2012

HF Insurance Agency begun operations, and was formed to serve existing HF customers

2012

HF Insurance Agency begun operations, and was formed to serve existing HF customers

2013

HF innovated a new solution, Ezesha, offering 105% mortgage financing, allowing customers to access mortgages to enable home ownership for more Kenyans

Komarock Phase 5A consisting of 162 units was completed and signed two Joint Ventures with land owners in Riruta (Precious Heights) and Kahawa (Kahawa Downs) to develop and supply 174 and 220 affordable housing units respectively.

2013

Komarock Phase 5A consisting of 162 units was completed.

HF signed two Joint Ventures with land owners in Riruta (Precious Heights) and Kahawa (Kahawa Downs) to develop and supply 174 and 220 affordable housing units respectively.

2015

In August 2015 the Company received approval from the Central Bank of Kenya (CBK) to establish a non-operating holding company and rebranded from Housing Finance to HF Group Limited. The banking and mortgage business was transferred to HFC Limited, while the Kenya Building Society rebranded to HF Development and Investment Limited.  

Westlands, Kitengela, Sameer, Kisii and Naivasha branches were opened within the year.

2015

TVET on wheels launched to address the shortage of relevant skills in the Building and Construction sector. The programme aims to tackle this shortage through training the aspiring artisans and up skilling existing artisans on live construction sites in practical skills.
2015

TVET on wheels launched to address the shortage of relevant skills in the Building and Construction sector. The programme aims to tackle this shortage through training the aspiring artisans and up skilling existing artisans on live construction sites in practical skills.
2015

TVET on wheels launched to address the shortage of relevant skills in the Building and Construction sector. The programme aims to tackle this shortage through training the aspiring artisans and up skilling existing artisans on live construction sites in practical skills.
2015

KBSL rebranded to HF Development and Investment Limited (HFDI)

Precious Gardens development at Riruta was completed

Komarock 5B was also completed

President Uhuru Kenyatta officiates the groundbreaking of Komarock Heights

2015

After rebranding, HF Insurance Agency began offering insurance solutions externally to the general public offering solutions from various underwriters.

Solutions offered include life, business, general and medical insurance.

2015

After rebranding, HF Insurance Agency began offering insurance solutions externally to the general public offering solutions from various underwriters.

Solutions offered include life, business, general and medical insurance.

2015

After rebrand, HF Insurance Agency began offering insurance solutions externally to the general public offering solutions from various underwriters.

Solutions offered include life, business, general and medical insurance.

2016

In January 2016, a new core banking system was introduced to improve on service delivery.

Komarock Phase 5A consisting of 162 units was completed. The year also saw the commencement of two new Joint Venture projects, Precious Gardens Phase One in Riruta and Kahawa Downs in Kahawa Wendani with 174 and 220 affordable housing units respectively. 

2016

In January 2016, a new core banking system - PROFITS- was introduced to improve in service delivery.

7 new branches were opened; Komarock, Hurlingham, River Road, Machakos, Nanyuki, Ongata Rongai and Embu, bringing the total branch count to 25.

2016

In January 2016, a new core banking system - PROFITS- was introduced to improve in service delivery.

7 new branches were opened; Komarock, Hurlingham, River Road, Machakos, Nanyuki, Ongata Rongai and Embu, bringing the total branch count to 25.

2016

K-Mall, the new family mall at Komarock was completed

Kahawa Downs is completed

Construction begins at Richland Pointe, Kamiti Road

Mission & Vision

VISION

To be the leading provider of integrated solutions for the acquisition, development and improvement of property in Kenya.

 

MISSION

We will be the leading integrated solutions enabler for the property industry. We will offer innovative products and services, delivered under one roof by exceptionally committed people to enhance shareholder value. We will operate across the property value-chain as suppliers and financiers that offer unique solutions to all while being environmentally responsible.

 

Leadership

  • Board Of Directors
  • Management
  • Prof Olive M. Mugenda Prof Olive M. Mugenda Group Chairperson ×

    Prof Olive M. Mugenda - Group Chairperson

    Prof. Mugenda is a seasoned academic researcher and administrator with specialization in Women/Girl’s Education, Research Methods & Statistics, Leadership and Governance. She holds a Doctor of Philosophy (Ph.D.), Iowa State University, USA. Master of Business Administration, Eastern and Southern Africa Management Institute, (ESAMI), Arusha, Tanzania. Master of Science (M.Sc.), Iowa State University, USA and Bachelor of Education (First Class Honours), University of Nairobi.

    Currently, she is the Chairperson – Kenyatta University Teaching, Referral & Research Hospital; Commissioner – Judicial Service Commission (JSC); Non-Executive Director, UBA Kenya Ltd (March 2016 to date), among others. She was the Vice-Chancellor, Kenyatta University for 10 years – between March 20th 2006 to March 20th 2016. During her tenure, the University grew in both stature and financial strength.

  • Benson I Wairegi Benson I Wairegi Director ×

    Benson I Wairegi - Director

    Benson is currently Group Managing Director of Britam Holdings Limited. He joined British-American Insurance Company Ltd. (as it was then called) in 1980 as the Chief Accountant. He had previously worked with Price Waterhouse, the forerunner of PricewaterhouseCoopers for 3 years. Benson’s is currently Vice Chancellor of Kenyatta University.

    Benson holds a Bachelor of Commerce degree in Accounting and an MBA in Strategic Management. He is a member of the Institute of Certified Public Accountants of Kenya (ICPAK).

  • Peter Munga Peter Munga Director ×

    Peter Munga - Director

    Mr. Munga is the Chairman of Equity Bank Limited, Chairman of National Oil Corporation (NOCK), Chairman of Micro-Enterprise Support Programme Trust (MESPT) and a director Rockfeller Foundation, Equatorial Nut Processors and British-American Investments Company (Kenya) Ltd. He is an enterprising businessman and runs the Pioneer Group of Schools. He is a Certified Public Secretary with vast experience in both public and private sector management and holds a diploma in Human Resources and Financial Management. Mr. Munga is a retired Deputy Secretary.

  • Felister Kembi Felister Kembi Director ×

    Felister Kembi - Director

    Ms. Felister Kembi joined the board on September 2016. She is a graduate of the University of Nairobi with a degree in B.Com (Accounting). She is also a CPA (K) holder and a member of the Institute of Certified Public Accountants of Kenya (ICPAK). Felister has vast experience having worked for Kenya Airways, East African Portland Cement, Kenya Times, Bellhouse Mwangi, Ernst & Young and Roussel of EA later known as AgrEvo EA Ltd. mainly as an accountant, Auditor and Finance Manager. She is also a director of Felicity Exclusive Designs, a major importer and distributor of clothing and household goods. 

     

  • Constance Gakonyo Constance Gakonyo Director ×

    Constance Gakonyo - Director

    Ms Gakonyo is a strategic management expert with extensive legal and corporate governance experience. She has held a variety of senior management positions including that of Legal Consultant and Head of the Performance Management portfolio for SABMiller Africa Asia (Pty) Limited. She holds a Law Degree from the University of Nairobi and an MBA in Strategic Management. Constance is a member of the Law Society of Kenya (LSK), Certified Public Secretaries CPS (K) and the Chartered Institute of Arbitrators.  She sits on the Board of HFG (since 2014) and heads the Nomination and Governance Committee. Constance has also served on the Boards of East African Breweries Limited (EABL) and on the Group Boards of REAL Insurance Co. Ltd (Kenya, Malawi, Mozambique, and Tanzania). 

     

  • Charles Kimani Njuguna Charles Kimani Njuguna Director ×

    Charles Kimani Njuguna - Director

    Mr. Njuguna is the Acting Group Managing Director, Britam Holdings PLC.

    He has over 20 years’ experience in the Financial Services sector where he has managed transformational projects, having worked with ABN Amro Bank, GT Bank, Old Mutual, Family Bank as the Chief Financial Officer and Faulu Micro-Finance Bank as the Managing Director. 

    He holds an MBA, Masters in Finance from the University of Nairobi. Bsc, Accounting, United States International University – Africa (USIU). Management Program, IESE Business School, University of Navarra (Spain). Program on Strategic Leadership in Inclusive Finance (Harvard Business School), Africa Board Fellowship (ACCION – Center for Financial Inclusion in Partnership with MasterCard Foundation and FMO). Micro, SME and Housing Finance Summer Academy – Frankfurt School of Finance and Management.

  • Dr. Anthony Omerikwa Dr. Anthony Omerikwa Director ×

    Dr. Anthony Omerikwa - Director

    Dr. Omerikwa, MBS is the CEO/Managing Trustee of the National Social Security Fund. Prior to his current position, he served as the Acting General Manager Operations in the same institution overseeing Information Technology, Human Resource, Administration and Procurement functions.

    He holds a Doctoral Degree from the University of Georgia, a Specialist Advanced Degree in Labour, Workforce Development and Education and a Master of Science Degree in Human Resource Development both from Pittsburgh State University, a Bachelor of Arts Degree in Economics from Kenyatta University and a Diploma in Data Processing and Management from Strathmore College. Dr. Omerikwa is an associate member of the Institute of Human Resource Management, Institute of Directors and Kenya Institute of Management.

  • Robert Kibaara Robert Kibaara Group Chief Executive Officer ×

    Robert Kibaara - Group Chief Executive Officer

    Robert is a renowned banker, with over 24 years’ experience and an excellent record of accomplishment in successfully driving change, revenue mobilization and delivering outstanding business results. He has previously held several leadership positions including Retail Director at NIC Bank; Executive Director - Retail and Business Banking at National Bank of Kenya; General Manager - Integrated Distribution for Southern Africa and General Manager Personal Banking & New Business at Standard Chartered Bank; among other executive positions at Barclays Bank of Kenya. 

    He holds a Bachelor’s Degree in Banking and Finance from the University of Sunderland (UK) and a Post Graduate Diploma from the Chartered Institute of Marketing (CIM) UK.

  • Robert Kibaara Robert Kibaara Group Chief Executive Officer ×

    Robert Kibaara - Group Chief Executive Officer

    Robert is a renowned banker, with over 24 years’ experience and an excellent record of accomplishment in successfully driving change, revenue mobilization and delivering outstanding business results. He has previously held several leadership positions including Retail Director at NIC Bank; Executive Director - Retail and Business Banking at National Bank of Kenya; General Manager - Integrated Distribution for Southern Africa and General Manager Personal Banking & New Business at Standard Chartered Bank; among other executive positions at Barclays Bank of Kenya. 

    He holds a Bachelor’s Degree in Banking and Finance from the University of Sunderland (UK) and a Post Graduate Diploma from the Chartered Institute of Marketing (CIM) UK.

  • Peter Mugeni Peter Mugeni Managing Director, HFC ×

    Peter Mugeni - Managing Director, HFC

    Peter is a seasoned Banker, with over 20 years’ experience in leadership, Credit Risk Management and Operations, as well as leading large teams both regionally and across Africa. Through his experience, he has formulated and implemented business strategies which have made significant turnaround impacts to the organizations he has worked for. He joined HF Group from Standard Bank of South Africa where he was Credit Executive responsible for Sanctioning and Monitoring of Large Exposures from Stanbic Africa entities (including Kenya). Prior to that, he was the Head of Credit, Personal and Business Banking for Stanbic Bank Tanzania for 5 years.

    Peter has previously worked at Housing Finance as an Accounts Officer, Credit Analyst and Assistant Credit Manager, and with Stanbic Bank Kenya Limited as Credit Origination Manager (Corporate & Investment Banking), Credit Evaluation Manager (Personal and Business Banking) and Head of Credit, Business Banking. He holds a Master of Science in Finance (Banking Option) and a Bachelor of Commerce degree (Finance Option) both from the University of Nairobi. In addition, he is a Certified Retail Banker (CRB), Certified Chartered Accountant (ACCA) and a Certified Bank Credit Evaluator.

  • Regina Anyika Regina Anyika Company Secretary and Director, Legal ×

    Regina Anyika - Company Secretary and Director, Legal

    Regina joined the Company on 16th September 2013. She is currently the General Manager –Legal Services and Company Secretary. Prior to joining the company Regina worked with the Cooperative Bank of Kenya Limited and Senator Cards Limited. Regina is a seasoned In House Counsel with over 20 years’ experience. She holds an MBA – Employee Relations from the University of Leicester (U.K), a Bachelor of Laws (LLB) from the University of Nairobi, a Diploma from the Kenya School of Law and is a Certified Public Secretary (CPS).

  • Joseph Ngare Joseph Ngare General Manager, Audit ×

    Joseph Ngare - General Manager, Audit

    Joseph joined HFC on 19th April, 2010 as the Head of Audit. Prior to joining the Company, Joseph worked with Gulf African Bank and Cooperative Bank of Kenya Limited.

    Joseph holds a Bachelor of Commerce degree (Finance Option) and is a qualified Certified Public Accountant (Kenya), Certified Internal Auditor (CIA) and a Certified Quality Assessor (QA).

  • Tom Shivo Tom Shivo Director, Human Resources ×

    Tom Shivo - Director, Human Resources

    Tom is a seasoned HR practitioner with 23 years working experience, 20 of which have been in the Human Resources field. He has previously worked at Safaricom as the Head of Business Partners (Commercial Divisions); Airtel Africa as the HR Director (Talent Management) and had a stint in Nigeria as the HR Director for Airtel Nigeria. He has also worked at Kenya Airways, where he was the Head of HR Relationships & Reward, and also acted as the HR Director for close to a year.  At Coca-Cola Sabco, he was the Country HR Manager for the Kenya business, and previous to this he was the HR Manager at The Nairobi Hospital. He has been a HR consultant with Hawkins Associates /KHI Training, and a teacher in his early career days.

    Tom holds an MBA in Human Resources from University of Nairobi, a Bachelor of Education from Kenyatta University and a Higher National Diploma in Human Resources. He also holds an Advanced Leadership Certificate from GIBBS Institute (Pretoria University) and Christ Church (Oxford University).

  • Kennedy Gachoki Kennedy Gachoki Head Of Risk ×

    Kennedy Gachoki - Head Of Risk

    Kennedy joined HFC in November 2015 to oversee the Enterprise Risk Management Division with functional reporting responsibilities to Board Risk Committee. He joined HFC from Central Bank of Kenya (CBK) where he had served since June 2008, in Bank Supervision Department. He has vast experience in banking risk management processes including in risk identification, risk measurement, risk control and risk monitoring. He has also participated in several international and local forums on banking risk management including compliance related trainings.

    Kennedy holds a Master Degree in Business Administration (MBA-Finance) from the University of Nairobi and a Bachelor of Commerce Degree in Accounting. He is also a Certified Public Accountant CPA (K).

  • Patrick Njunge Patrick Njunge Director, Retail ×

    Patrick Njunge - Director, Retail

    Patrick is a seasoned results-driven banker with 12 years’ experience in banking. He has good experience in building business units, driving innovation and entrenching excellence in customer experience. Patrick has managed various business units and has broad experience in digital and retail banking. Some of the roles he has managed in the past include Portfolio Manager - Lending; Head of Credit Cards business, Head of Retail Products and segments, and Head of Digital Business across 3 banks; NIC Bank, National Bank and Standard Chartered Bank.

    Patrick is a holder of a Global Executive MBA from USIU in partnership with Frankfurt School of Business and a Bachelor of Arts Degree in Economics, among other qualifications.

  • Joseph Chikove Joseph Chikove Head of Treasury ×

    Joseph Chikove - Head of Treasury

    Joseph is a seasoned Banker, with over 11 years’ experience in the banking industry. He has had an excellent track record orchestrating high team performance in the treasury business.

    He joins us from NIC Bank, Uganda where he was Head of Treasury. Prior to that, he was a Senior Treasury Dealer at NIC Bank, Tanzania. Before that, he worked at Fina Bank Kenya Limited as an Internal Audit Assistant and a Treasury Back Office Officer respectively. He also held special assignments at Fina Bank Uganda and Fina Bank Rwanda.   

    Joseph is currently undertaking his Master’s in Business Administration from Edinburgh Business School and holds a Bachelor of Commerce degree from University of Nairobi. He also holds an ACI Dealing Certificate, Kenya Accounts Technician Certificate and is a Certified Public Accountant (CPA Part 1).

  • David Igweta David Igweta Chief Operations Officer ×

    David Igweta - Chief Operations Officer

    David is a seasoned Technology and Banking Operations practitioner with 24 years working experience cutting across banking, energy, manufacturing and education sectors. He joins us from Spire Bank, where he was the Head of Technology & Operations. He has previously worked with NIC Bank, where he was the Group GM for Technology, Ibera Africa (Soluziona) as an ICT Consultant and Car & General as an Assistant IT Manager. David has regional and international exposure, having worked and implemented IT solutions in Kenya, Uganda, Tanzania, and Spain. David holds a Bachelor’s degree from Kenyatta University, and an IMIS Diploma in Information Technology from the Institute of Management Information Systems (UK). He also holds various technology certifications.

  • Tonney Agira Tonney Agira Director, Strategy and Business Performance ×

    Tonney Agira - Director, Strategy and Business Performance

    Tonney is a seasoned Banker, with over 13 years’ experience in Strategy development & Execution, Business intelligence and analytics, retail banking and Products Management. Through his experience, he has been able to achieve business results which have made significant turnaround impacts to the organizations he has worked for, including growth in revenue and profitability; process improvements; development of business scorecards and frameworks that created excellence in market execution.

    He has previously held several senior roles  including Head of Products,  Head of Retail Strategy & Analytics at  NIC Bank; Head of Retail Lending, and Manager Business Intelligence & Analytics at National Bank of Kenya; and a Business Analyst among other roles at Barclays Bank of Kenya.

    Tonney holds a Bachelor’s of Science degree (Biomedical Science & Technology - Pharmacology option) and is currently undertaking his MBA. He is a data and analytics enthusiast and has several certifications in this field including predictive analytics and propensity modeling certifications. He is also a yellow belt holder of the Lean six sigma process re-engineering program.

  • Sammy Kamanthi Sammy Kamanthi Group Chief Finance Officer ×

    Sammy Kamanthi - Group Chief Finance Officer

    Sammy is a finance professional and a seasoned banker with over 19 years track record in the banking industry. His role includes providing leadership in financial forecasting & budgets, overseeing the preparation of financial reports as well as advisory on long term business and financial planning.

    Prior to joining HF, he held the position of General Manager and Head of Finance for the Kenya operations of Equity Bank. He has also served as the Finance Manager & Head of Financial Reporting at the same institution. Sammy has also held other positions including Accountant at Kenya Airways; Graduate Management Trainee, Senior Bank Officer and Assistant Finance Manager at the Central Bank of Kenya.

    Sammy holds a Bachelor of Commerce Degree in Accounting from Kenyatta University, Master’s Degree in International Development Studies, Development Economics from National Graduate Institute of Policy Studies – Tokyo, Japan and Master in Business Administration(MBA) – Finance, from Edinburgh Business School (EBS), Heriot -Watt Univ – Edinburgh. He is a Certified Public Accountant CPA (K) and a member of the Institute of Certified Public Accountants (ICPAK).

Awards