How M-Akiba will unlock billions of idle cash into economy

National Treasury Cabinet Secretary Henry Rotich (left) and Nairobi Securities Exchange Chairman Eddy Njoroge (right) are taken through the process of buying government bonds via M-Akiba by Safaricom Director for Financial Services Betty Mwangi-Thuo. [PHOTO: JONAH ONYANGO/STANDARD]

The Government’s plan to launch M-Akiba bond on October 16, 2015, will mark an important milestone in the country’s evolving financial architecture with far reaching consequences.

First, the launch is expected to give the Treasury access to billions of shillings from small-time savers only a few of whom had banked their money with financial institutions because they pay low interest rates.