• Advertise with Us
Monday, December 4, 2023
  • Login
No Result
View All Result
NEWSLETTER
Kenyan Wallstreet
  • Home
  • News
    • Kenyan News
    • African News
    • Global News
  • Business
    • Agriculture
    • Banking
    • Aviation
    • Energy
    • Manufacturing
    • Markets
    • Technology
    • Startups
  • Money Matters
  • Podcast
  • Videos
  • Digital Assets
  • Calendar
  • Home
  • News
    • Kenyan News
    • African News
    • Global News
  • Business
    • Agriculture
    • Banking
    • Aviation
    • Energy
    • Manufacturing
    • Markets
    • Technology
    • Startups
  • Money Matters
  • Podcast
  • Videos
  • Digital Assets
  • Calendar
No Result
View All Result
Kenyan Wallstreet
No Result
View All Result

M-Akiba Retail Bond To Be Finally Launched, Targets Sh 150M in Pilot Phase

Kenyan WallStreetbyKenyan WallStreet
March 21, 2017
in Kenyan News
Reading Time: 2 mins read
Screen shot 2017 03 17 at 8.38.15 PM

The Kenyan Government will finally launch the M-Akiba Mobile retail bond on Thursday 23rd March – nearly two years after postponing the project several times.

Sale of the tax free mobile infrastructure bond will be opened from Thursday 23rd March to 10th April 2017 with an initial target of Sh 150 Million at a fixed coupon rate of 10%. Interest of the three year bond will be paid twice a year until April 2020.

ADVERTISEMENT

Only two mobile operators, Safaricom and Airtel have been chosen to act as placing agents and they will be paid commission at the rate of 0.1% of actual sales (at cost) net 5% withholding tax.

The announcement is particularly important for Kenyan investors given that in the past years, the Government has been issuing Treasury Bonds and Infrastructure bonds with a minimum investment amount Kshs.50,000.00; making difficult for most Kenyans to afford the bonds. The M-Akiba special bond, the first of its kind in the world and requires a minimum investment of Kshs.3,000. This is affordable to most Kenyans compared to the initial ones that had a minimum investment of Kshs.50,000.

“A total cost of 0.035% of your total investment shall be payable as commission to the capital markets participants namely the Nairobi Securities Exchange, Capital markets Authority, Central Depository and Settlement Corporation and the Investor Compensation Fund……other transaction costs to be inserted once agreed upon.” 

Investors can participate by dialling *889# and follow the instructions to complete an order.

Related; Kenya signs Sh160 billion in Three syndicated loans, Sh 82Bn Already Disbursed


Previous Post

World Happiness Report; Somalia Among Africa’s Happiest Countries

Next Post

CBK Governor Patrick Njoroge sees Chase Bank’s receivership over soon

Related Posts

Equity Group CEO James Mwangi.

Equity Group Completes Acquisition of Rwandan Bank

December 2, 2023
Bigstore

Bigstore Secures Funding, Expands eCommerce Services

December 2, 2023

Kenya’s Inflation Rate Dropped Marginally in November

December 1, 2023

Bamburi Discontinues Ordinary Portland Cement, Pushes Greener Products

December 1, 2023

African Experts Call for New Paradigm to Unlock Methane Action Financing

November 30, 2023

Kenya Signs Food MoU, Targets to Cut Imports by US$200M Per Year

November 30, 2023

Diaspora Capitalizes on Weak Shilling with Real Estate

December 1, 2023

Sameer Issues Profit Warning, Plans to Retire Foreign-Currency Dominated Liabilities

November 30, 2023
Load More
Next Post
0B52PRFLtnWK1dXhmYVRIaFBLTzQ

CBK Governor Patrick Njoroge sees Chase Bank's receivership over soon

Follow Us

  • 167.4k Followers
  • 4.1k Subscribers
  • 1.2k Followers

WhatsApp

Subscribe

Telegram  

Subscribe

Podcasts

Featured

No Content Available

About Us

We are a leading integrated digital content platform providing in-depth business and financial news across Sub-Saharan Africa & the globe.

Contact Us

Kenyan Wall Street
Email: [email protected]
Website: www.kenyanwallstreet.com

Disclaimer

The information contained in this website is for general information purposes only.
Read more..

  • Advertise with Us

Copyright 2023. The Kenyan Wall Street LTD. All Rights Reserved.

No Result
View All Result
  • Home
  • News
    • Kenyan News
    • African News
    • Global News
  • Business
    • Agriculture
    • Aviation
    • Banking
    • Energy
    • Infrastructure
    • Insurance
    • Investment
    • Manufacturing
    • Markets
    • Public Policy
    • Real Estate
    • Startups
    • Technology
  • Podcast
  • Videos
  • Events

Copyright 2023. The Kenyan Wall Street LTD. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In