M-Akiba is a Government of Kenya issued retail bond that seeks to enhance financial inclusion for economic development. Money raised from issuance of M-Akiba shall be dedicated to infrastructural development projects, both new and on-going.
The purpose of floating the M-Akiba bond is to finance Government development expenditure / budgetary support. Tenure of the bond is 3 years with a target of Kshs. 150 million
It’s a Mobile Traded Bond – all activities relating to registration, trading, settlement will be via mobile platform. By dialing USSD code *889#. Maximum investment per account / per day – Kshs. 140,000
The coupon shall be paid directly to the phone automatically on the maturity dates. This will be the case even in instances where the coupon to be paid exceeds the Kshs. 140,000 daily limit. The M-Akiba bond is tax-free. Interest rate of the bond is 10% per annum but will be payable semi-annually after every 6 months.
How do i buy the M-akiba loan?
There are two channels you may use to buy M-Akiba; through your Mobile Money or through Pesalink
• Load your Mobile money account with at least Kshs.3,000; ensure you factor in the transaction costs. Dial *889# and follow instructions.
•For PesaLink, ensure you are registered for M-Akiba. To register, dial *889# and follow instructions. Use your preferred bank PesaLink channel, select PesaLink option, choose send money to phone option. Type 889 as the phone number, enter amount of bond you wish to purchase. Under reason for payment/narration, enter your ID number then submit.
•You will receive an SMS confirmation from PesaLink and your respective bank
•You will also receive a confirmation message from CDSC confirming your buy.