Treasury Completes KSh 935.9 Million Final Interest Payout To M-Akiba Investors

Treasury Completes KSh 935.9 Million Final Interest Payout To M-Akiba Investors

The Central Depository and Settlement Corporation (CDSC)  says it has made a final payout of KSh 935.9 Million to investors in the mobile-traded government bond, M-Akiba.

The amount includes Ksh.44.6 million in interest and Ksh.891.4 million in principal amounts paid to 13,592 investors. 

Since its launch in 2017, a total of Ksh.312.4 million has been paid out as interest to M-Akiba investors across five issues which raised Ksh.1 billion in proceeds to the National Treasury.

M-Akiba was first issued on 30 June 2017, after a successful pilot phase launch of M-Akiba 1 on 23 March 2017.

The M-Akiba retail bond seeks to deepen and enhance financial inclusion through leveraging on increased mobile phone penetration to democratize access to formal financial systems for savings and investments.

The M-Akiba bond is open to Kenya’s citizens who have attained legal adult age of 18 years and are in possession of a mobile money enabled phone.