Co-operative Bank is set to finance the purchase of CIC’s subdivided plots located in Kiambu County by customers seeking to buy the properties and use them for development.
Co-op Bank will provide financing where buyers will be granted access to their plots once the loans are approved.
The land is part of a 200-acre property neighbouring Tatu City that was subdivided into quarter-acre parcels for easier sale after the insurer failed to dispose of it in one transaction.
The 200-acre property was used to secure a Sh3.4 billion loan from Co-op Bank that owns a 24.8 percent stake in the listed insurance firm.
“We have made it easier for buyers to pay for the plots either in cash or through bank financing of which Co-operative Bank is one of the financiers,” said Mr Patrick Nyaga, the group chief executive at CIC.