Kenya’s National Treasury last month launched the second offer of the M-Akiba Mobile Bond targeting to raise Sh 1.0 Billion, with a greenshoe option of a further Sh 3.85 Billion if there is sufficient demand.
There were doubts whether the this 3-year tax free bond would be fully taken up given the most recent stats from the treasury which revealed that as of Thursday evening, the bond had manage to raise only Sh 112.5 million.
According to The Standard Newspaper, The Government is mulling extending the offer should the uptake fail to hit the target by close of business today.
Public awareness is crucial to the success of a such a mobile based product, and it looks like the M-Akiba marketing team have done very little to drive this forward.
Kenya goes to the general elections in the next three weeks, and the timing of the bond couldn’t be worse.
