M-Akiba is a retail infrastructure bond issued by the Government of Kenya that seeks to enhance financial inclusion for economic development. It is a product by the government of Kenya though the Central Bank of Kenya (CBK) under the National Treasury in collaboration with Nairobi Securities Exchange (NSE), Central Depository Settlement Corporation (CDSC), Mobile Network Operators, and Kenya Association of Stock Brokers & Investment Banks (KASIB). The money raised from the bond will be used for funding of government infrastructural development projects, both new and on-going. Further, the M-Akiba bond is also aimed at enhancing the savings and investment culture by Kenyans.
The M-Akiba bond is open to Kenya’s citizens who have attained legal adult age of 18 years and are in a possession of a mobile money enabled phone in this case Safaricom’s M-Pesa or Airtel’s Airtel Money, a duly registered line and a valid National Identity card. The M-Akiba bond is guaranteed by the Government of Kenya.
