CDSC
Central Depository and Settlement Corporation
Geoffrey Odundo
M-Akiba Retail Infrastructure Bond
Nairobi Securities Exchange
NSE
Paul Muthaura
Rose Mambo
The National Treasury
Treasury

Another Opportunity for Kenyans to Buy Treasury Bond through M-Akiba

The opportunity for Kenyans to have a pie on the Treasury bond through their mobile phones is here again.

The government is targeting Ksh250 million by issuing M-Akiba Retail Infrastructure Bond.

It will be up for sale for ten days ( from February 25, 2019 to March 8, 2019) after which it will be listed on the NSE for secondary trading on March 12, 2019.

With as low as Ksh3,000 Kenyans can be able to invest for the bond whose redemption is set in September 7, 2020.

The National Treasury, the Central Depository and Settlement Corporation and the Nairobi Securities Exchange jointly re-opened the mobile-based bond to the public.

“The bond offers simplicity, convenience as well as great value to Kenyans across a wide spectrum of the economy,” said NSE’s chief Geoffrey Odundo.

Paul Muthaura, CMA’s head, was also present during the launch: “This reopening will enable Kenyans enjoy a high return of 10 per cent interest within the duration of one and a half years, tax exempt, proving to be very competitive against other investment instruments.”

CDSC Chief Executive, Rose Mambo said: “During the secondary market, CDSC shall continue to facilitate the settlement of M-Akiba transactions traded on the NSE and shall manage coupon payments and redemption of the bond at maturity.”

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