M-Akiba Investors' Final Interest Payment Totals Ksh 935 Million
Kevin Namunwa  |  Sep 7, 2020

13,492 M-Akiba Bond investors have received a total of Ksh 935.9 Million from the Central Depository and Settlement Corporation (CDSC)

The amount includes the principal and final interest on an infrastructure bond that was first floated by the National Treasury on 30 June 2017.

This is after a successful pilot phase launch on 23 March 2017.

The final interest and principal amount paid out to M-Akiba investors is KSh 44,567,500.00 and KSh 891,350,000.00, respectively.

Previously, the retail infrastructure Bond Investors received five interest payments on March 9, 2018, September 9, 2018, March 9, 2019, September 9, 2019 and March 9, 2020 totaling KSh 222,837,500.00.

To date, a total of KSh 312,420,000.00 has been paid out in interest to all M-Akiba Retail Infrastructure Bond Investors and KSh 1,041,400,000.00 raised from the five Bond Issues since 2017.

CDSC also recorded a total of 582,572 M-Akiba registrations since the first Issuance in June 2017.

CDSC has been the issuing and paying agent during the M-Akiba Bond tenure. M-Akiba bond is a debt instrument issued to retailers who trade it exclusively using their mobile phones.

An investor requires a minimum of KSh 3,000 to buy the bond and is able to sell it anytime using their mobile phone.