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M-Akiba opens the bonds market to small investors
A screenshot of the M-Akiba mobile traded bond, which is set to be launched by the National Treasury Cabinet Secretary on March 23, 2017. PHOTO | SALATON NJAU | NMG
The Treasury will on Thursday officially launch the long-awaited mobile-based bonds auction platform, opening a new channel for investors with small amounts of cash to lend to the government instead of keeping money in the bank.
The platform, dubbed M-Akiba, will pay investors a tax-free interest of 10 per cent, intensifying competition for cash deposits between the government, banks and saccos.
