Home Business Treasury to Sell a Three Years Mobile Bond -...

Treasury to Sell a Three Years Mobile Bond – M-Akiba in March 2019, Here’s how to Purchase M-Akiba via MPESA or Airtel Money

The first time Kenya’s treasury offered bonds via M-Akiba back in 2017 under-performed terribly, the bond-sale wasn’t as successful as expected with a total sale of Ksh 247.47 million instead of expected KSh1 billion due to poor public awareness; three years later in 2019, M-Akiba is here with us again and it’s a matter of a few weeks till you have a chance to invest using your phone. According to Nairobi Securities Exchange (NSE) head of enterprise innovation Mr. David Waggema, the three-year bond will be reintroduced, allowing people to invest with an impressive return on investment of 10 percent tax free interest.

At the time when M-Akiba was first introduced in 2017, the country was already pre-occupied with upcoming 2017 general elections leading to lack of awareness by most Kenyans; however, this time round, Mr Waggema indicated they’ll be doing public education before it goes on sale. 10 percent tax free return on investment is ahead of the prevailing yield curve for similar tenured government paper.

How to Subscribe and Start Investing in M-Akiba

Before we dive into M-Akiba’s investment world, first here is what you need to know;

  • Unless you’re a Kenyan citizen who has attained the age of 18 years and above, you’re not allowed to participate in M-Akiba bond sale, and yes this includes teenagers who are busy building their future in schools or own a phone.
  • You must have a mobile money enabled phone; if you’ve got MPESA or Airtel Money activated on your device, then you are good to go.
  • The mobile based bond is guaranteed by the Government of Kenya.

To start investing, follow below procedure;

  • First, you’ll need to enroll to M-Akiba by dialing a USSD Code *889# on your phone
  • A pop up will appear on your phone requiring you to enter your preferred Personal Identification Number (PIN). Set your preferred PIN then press OK to proceed. This will be the default PIN for your transactions, therefore you’re advised to keep it a secret. However, if you need to reset of forgotten, press 0 and follow the prompts to set a new PIN.
  • Enter Your National Identity Number
  • Register to Participate in M-Akiba, after entering your National ID number, you will then be prompted to register by dialing 1.
  • Accept the terms & conditions of M-Akiba by pressing 1 for YES.
  • If successful, you will receive notification from your mobile service provider confirming of your successful submission.
  • The confirmation message will have your M-Akiba Account Number, Your Name and the activation time & date of your M-Akiba Account. To proceed with trading, dial *889# on your phone and follow the prompts.

1 COMMENT

Leave a Reply to hellen Mathuva Cancel reply

Please enter your comment!
Please enter your name here

Xiaomi’s 80W Mi Wireless charging tech is the fastest with a reported 19 minute to full capacity

There have been several commendable innovations in the smartphone world for at least the past decade, we now have almost zero bezels...

Kenya Airways considers operating commercial drones to diversify revenue source

The Kenya Airways, commonly known by acronym KQ, is apparently considering operating commercial drones as it seeks on more ways to generate...

Telkom customers to livestream SuperSport channel with a free Showmax Pro mobile subscription

Telkom Kenya customers will now be able to live stream sports via the SuperSport channel with a free Showmax Pro mobile subscription...

Safaricom out to support e-waste management efforts from the informal sector

Kenya’s largest mobile service provider – Safaricom has announced plans to support the informal sector in management of the electronic waste. The...

The iPhone 12 Mini set to become the best value iPhone from the announced trio

When Tim Cook took to the stage in a pre-recorded event that was streamed live and announced a series of new iPhones,...

How to pay for the Kenya ferry services using MPESA on your mobile phone

Just recently, the Kenya Ferry Services and Safaricom inked a deal in which customers would be able to pay for services offered...

Kenyan CRBs drop 337 digital lenders from forwarding names of defaulters for backlisting

Kenyan credit reference bureaus have barred 337 unregulated digital lenders from forwarding names of defaulters for blacklisting. This comes a few months...

How to withdraw money from unaitas sacco account to MPESA using a phone

Members of the Unitas Sacco can withdraw money from their accounts to MPESA using a USSD code right on their mobile phone....