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Kenya’s mobile bond, M-Akiba sells out in 13 days

Treasury Cabinet Secretary Henry Rotich (left) and NSE Chairman Eddy Njoroge (right) being taken through the process of buying the M-Akiba bond. [PHOTO/ JONAH ONYANGO/STANDARD]

NAIROBI: The sale of the mobile phone-based Government bond M-Akiba closed Tuesday afternoon after Kenyan investors put in Sh150 million to fully subscribe to the bond.

The sale, which opened on March 23, closed ahead of the April 10 date it was scheduled to end following high demand from investors. According to the National Treasury, over 100,000 investors had registered to invest in the bond but only a small fraction made actual purchases.

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M-Akiba