It took the Government 21 months of planning before launching what was billed as the world’s first mobile-traded retail bond, M-Akiba bond. Hit targetDespite the Sh150 million limited edition exciting Kenyans, the Government’s move to raise Sh1 billion has hit a snag - failing to hit even a quarter of the target. ALSO READ: Blame game as M-Akiba sale faltersThis time round, however, Treasury failed to woo Kenyans into buying the Sh1 billion bond that was offered with a green shoe of Sh3.85 billion. A month to the close of the bond sale saw Treasury blame key parties for taking a back seat. With this calculation, it would mean that raising Sh5 billion via an M-Akiba bond would save the Government in the region of Sh175 million.

Source: Standard Digital September 12, 2017 06:56 UTC