The ORPP Staff Mortgage and Car Loan commenced disbursement in FY\u00a0 2018\/19 has to the start of the current FY 2024\/25 registered key milestones.<\/p>\n
According to the end of FY 2023\/2024 Mortgage and Car Loan Scheme Advisory Committee status report, the Scheme registered notable progress. In Financial Years, 2018\/19 to 2023\/2024, a total of\u00a0 twenty five (25) staff had benefited from the Mortgage disbursement amounting to KES 207, 858,819 while\u00a0 four (4) staff had car loans processed under the Car Loan for KES 4,950,000.<\/p>\n
Other gains registered over time by the facility as spearheaded by Scheme\u2019s Committee is sustained responsiveness with timely processing of applications and no default on loans issued .\u00a0 For instance, out of\u00a0 of the 25, six staff have since completed their repayments amounting to KES 57,200,000.<\/p>\n
Interestingly across the years , the female staff outshone the male counterparts on the uptake, with the female accounting for 69.3% (KES 158,903,000) uptake of the two facilities while the remining 30.7 %\u00a0 (70,405,819) was the portion by male gender.<\/p>\n
\u201cWe are pleased as an Office to have such a well-managed facility that is\u00a0 adequately resourced to cater for the staff Mortgage and Car loan needs. I urge staff to take up the facility within their financial capabilities to improve their welfare\u201d, said Joshua Kimulu, a long serving Chairperson of the ORPP Mortgage and Car Loan Scheme Advisory Committee.<\/p>\n
His counterpart, Jacqueline Kosgei, also the Committee\u2019s Secretary, further urging the staff to take up the Facility and gain on competitive interest rates as part of government\u2019s support to improvement of public service staff\u2019s living conditions while working. She however, advised of the need properly plan and consult the Committee and other professionals prior to taking up such financial obligations for personal financial prudence and in view of present socio-economic realities.<\/p>\n
\u201cThis Scheme is designed to empower ORPP employees by offering them the financial flexibility to purchase homes and vehicles at very affordable bargain, way below the prevailing market rates\u201d, noted Lenard Rotich, a Committee Committee.<\/p>\n
The Scheme\u2019s loan book as allocated by the National Treasury between financial years 2017\/2018 and 2022\/202 was a total of KES 212,999,938, out of which KES 180,899,938 caters for Mortgage while KES 32,100,000 is allocated to Car loan. These amounts have been utilized to date as a rolling Fund.<\/p>\n
The Advisory Committee runs the Facility on behalf of ORPP with a tenure of three years, pursuant to the ORPP (Staff Mortgage and Car Loan Scheme) Regulations, 2017<\/em>. The current Committee members were appointed in May 2024 after the lapse of previous Committee.<\/p>\n Members of the include of the Committee including Alternate members and the Secretariat are; Joshua Kimulu (Chairperson), Jacqueline Kosgei (Secretary) with members as; Douglas Wanzala (Scheme\u2019s Accountant), Anastacia Kaberere, Geraldine Mukele, Lenard Rotich, Jane Kamau, Loserian Tukei (Alternate to Senior County Coordinator), Mary Kavindu (Alternate to the Secretary) and Elizabeth Wakesho (Secretariat).<\/p>\n The team has continuously assessed the performance of the Scheme and made efforts to address challenges identified to optimize the purpose intended. Some of the Committee\u2019s current interventions for the efficacy of the Scheme include continuous staff sensitizations, review of performance service providers, production and dissemination of information among others.<\/p>","protected":false},"excerpt":{"rendered":" The ORPP Staff Mortgage and Car Loan commenced disbursement in FY\u00a0 2018\/19 has to the start of the current FY 2024\/25 registered key milestones. According to the end of FY 2023\/2024 Mortgage and Car Loan Scheme Advisory Committee status report, the Scheme registered notable progress. In Financial Years, 2018\/19 to 2023\/2024, a total of\u00a0 twenty […]<\/p>","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","inline_featured_image":false,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[1],"tags":[],"class_list":["post-7145","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"acf":[],"yoast_head":"\n