Jamii Bora and the County Government of Murang’a have signed a memorandum of agreement to build hostels at Murang’a University College.
The Agreement will enable the college to enhance its accommodation capacity to support increased intakes in the coming years with financing from the bank to private investors keen to put money in accommodation infrastructure at the university. The bank will provide 90% of financing to qualifying investors.
This comes about as shortage of accommodation at the University seems to curtail the institution’s ability to grow and cater for more students. Under this agreement, the County Government of Murang’a will provide a standard approved plan for use in the construction of the hostels; waive all fees associated with the approval and construction of the hostel and create a conducive legal and business environment for investors to construct the hostels through use of tax incentives, among others.
On its part, the University will manage the hostels and collect rental income due to the investors on their behalf.