Kenya launches M-Akiba phone-based bonds, tapping pool of small investors

Published: 3 months ago

Category: Africa, Business, Mobile

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Kenya on Thursday began selling its first mobile-phone-based government bond as part of an ambitious plan to broaden the pool of investors in government securities.

Finance Minister, Henry Rotich said the government is initially making a limited offer of 150 million shillings to test the system before a bigger offer in June.

“M-Akiba is about financial inclusion, we want to get as many Kenyans to be included in the financial sector so using the mobile whereby about 23 million Kenyans are now having mobiles, they can easily access this product and they will be fully participating in the financial system ,“he said.

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