M-Akiba was an initiative by the National Treasury to enable citizens to purchase bonds from as low as KSh 3,000. The first offer was aiming to raise KSh 150 Million which was successfully achieved.
The Treasury today launched the second offer whose objective is to raise Kshs 1 billion. New changes have been made to help achieve this significantly bigger target; PesaLink will be the new avenue of buying the bond. The advantage with PesaLink is that it offers up to KSh 999,999 in money transfer which is almost 8 times more than the KSh 140,000 limit of the mobile money services that were used in the initial offer. For those who still want to continue using the usual mobile money transfer, the option is still available. Even better, on Friday, National Treasury Cabinet Secretary Henry Rotich promised to work on raising the KSh 140,000 M-Pesa daily limits to cater for those who do not have bank accounts.
The bond will close on July 21 and the secondary trading will start thereafter on July 25TH. As a refresher, the bond pays at a rate of 10 per cent every six months, and it matures in 3 years. Those who missed out on the first offer and would want to join in on the second one can get to know all about M-Akiba on our comprehensive article.