Nairobi, July 9 -- Mortgage financier HF Group #ticker:HF is seeking to raise Sh1 billion from unnamed investors to boost its capital and liquidity position.
The loss-making firm has in recent years suffered from the slowdown in the real estate market and interest rate controls that were repealed in November last year.
HF, whose top shareholder is insurer Britam Holdings with a 48.22 percent stake, says in its latest annual report that it is negotiating with investors for additional tier two capital.
The potential investors have been conducting due diligence on the lender.
"The group is expecting a Sh1 billion tier two capital injection in 2020 which will take the ratio back to compliance," the company says in the report.
HF's tier two...