M-Akiba-Account Opening, Registration, Trading, USSD code, M-Akiba CDS Account, Interest, How to buy, How to sell, Contacts.
M-Akiba is a Government of Kenya issued retail bond that seeks to enhance financial inclusion for economic development. Money raised from issuance of M-Akiba shall be dedicated to infrastructural development projects, both new and on-going. M-Akiba is making savings more convenient and easier by providing you with a unique opportunity to save money through your mobile phone while at the same time earning very attractive interest rates from the Government.
It’s a Mobile Traded Bond – all activities relating to registration, trading, settlement will be via mobile platform, by dialing USSD code *889#. Maximum investment per account / per day is Kshs. 140,000.
Minimum Investment-Initial minimum investment amount per account is Kshs. 3,000.
The M-Akiba bond is guaranteed by the Government of Kenya and is tax-free. Interest rate of the bond is 10% per annum but will be payable semi-annually after every 6 months.
When will the Government pay me back my money?
The maturity period of this Special Bond is three (3) years; meaning that you will be paid back your initial investment amount called the “principal” after three years, plus any accrued interest for the last six months.
What is the interest rate for the M-Akiba Bond?
The interest rate for this bond is 10% per year and it is fixed.
How frequently do I get paid my interest?
The interest will be payable twice in a year for the next three years.
What are the benefits of investing in M-Akiba Retail Bond?
1. M-Akiba Bond is a low risk savings/investments
2. It is affordable
3. M-Akiba is a sure source of income from the interest earned after every six months
4. Agreed upon returns in form of interest paid –semi annually
5. There is no taxation on the M-Akiba bond
6. Liquidity as one can sell when need arises
7. A way of saving money for the future
8. Convenient and confidential
9. You can transact Anywhere, Anytime within the Republic of Kenya
10. No need for a bank account, you use mobile money
Who can buy the Bond?
All Kenyan citizens can buy the Bond using their mobile phones.
Why should I buy the M-Akiba bond?
This bond is an attractive savings product, giving a guaranteed return of 10% per year. The purpose of this bond is to provide the Government with the necessary funds to finance its infrastructural development projects for the betterment of our infrastructure and the economy at large.
What do I require to buy the Bond?
1. You need to have a mobile phone (a simple phone will be okay)
2. You need to have registered your mobile number with Airtel or Mpesa Mobile Money
3. You need to open an M-Akiba CDS Account (this is Free!)
Do I have to open another CDS account if I already have one?
Yes. Your CDS account for M-Akiba will be different from the normal CDS account that you hold today
How do I open an M-Akiba CDS Account?
Once you have registered your mobile number for Mobile Money (Airtel or Mpesa), Dial *889# and follow the instructions. You will receive an SMS confirmation message with your M-Akiba CDS Account number.
How do I buy the M-Akiba bond?
Load your Mobile money account with at least Kshs.3000; ensure you factor in the transaction costs. Dial *889# and follow instructions. You are now on your way to saving with the M-Akiba Bond.
What is the minimum amount of bond I can buy during the M-Akiba offer period?
The minimum amount of the Bond an investor can buy per transaction is Kshs.3,000 worth of the bond. Thereafter, one can buy in the multiples of Kshs.500.00 per day until the full amount on offer is exhausted. There are no restrictions as to how much an investor shall buy in the secondary market.
Is there a limit on how much I can buy per day?
Yes with M-Akiba, the limits shall be according to allowed maximum transaction amounts by the Mobile Network Operators; currently it is Kshs.140,000 per investor per day.
How can I continue to buy if I want to buy more than the minimum amount per day?
You will wait for the next day to do your transaction. You can repeat this daily until you reach the amount you wish to invest for as so long as the bond is still available for sale.
How do I earn/make money from M-Akiba bond?
As an investor you will be paid 10% of your total investment per year, for the next three years. The interest is payable after every six months. This is more than you receive from most other saving products.
Can I sell my bond before the end of the M-Akiba three year period?
Yes. You can sell your bond after closure of the initial sale period through the Nairobi Securities Exchange. To sell, Dial *889# and choose the “sell” option then follow instructions to complete your sell order. You may sell part or the total investment you had made.
What happens to my interest after I sell my Bond before the interest payment date?
Yes. Interest is earned on daily basis hence you will not lose your interest if you sell before the next payment period. Accrued interest until the date of sale shall be paid to the seller immediately upon sale
Can I Buy the Bond after close of the M-Akiba offer?
Yes. You can buy the bond in the secondary market (Nairobi Securities Exchange) . All you need to do is Dial *889#, choose the “buy” option and follow instructions to complete your buy order. Ensure you have enough money in your mobile wallet for the amount of bond you wish to purchase. Transactions costs shall apply.
How can I track my M-Akiba investment?
Simply dial *889# and go to the “My Account” menu, you will be able to view your statement.
How do I get to know my Stockbroker for M-Akiba?
Once you buy the bond after registering, you will automatically be allocated a stockbroker. Additionally, you will receive notification SMS with your stockbroker’s name. The stockbroker may be different from your usual stockbroker for your other securities.
Whom do I contact incase I have any queries related to the M-Akiba Bond?
You can contact the M-Akiba call Center on 0900 889000