On March 23, 2017, The National Treasury Cabinet Secretary, Hon Henry Rotich officiated the mini launch of the Special Limited Offer of M-AKIBA Bond at the National Treasury in Nairobi. This is ahead of the main Bond which will be launched by the President H.E Uhuru Kenyatta in June this year.
Hon Henry Rotich said Kenya is issuing the World’s First Mobile-based Government bond directly and exclusively for the benefit of the average Kenyan. The mini launch of M-AKIBA Bond will debut at the capital market as a special offer with a target of Sh 150 million. The main launch in June will be of Sh 4.85 billion.
The bond is open to all mobile phone users(including the Kenyan Diaspora) registered with Safaricom and Airtel, with interest payable half-yearly and investors will get updates via text messages upon making payment via mobile money. The 3-year bond will be the first in the world to be offered on a mobile money platform.
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Source: National Treasury/Business Daily