M-Akiba: Kenya’s Latest Financial Revolution

by | Jun 16, 2015

The Kenyan government has announced its intention to launch a mobile service called M-Akiba that provides citizens a better option of buying government bonds and securities on their mobile devices with a minimum investment of Kshs 3,000 (US$30).

The M-Akiba bond is a treasury mobile direct program that will be launched in July 2015. The Cabinet Secretary for Treasury said that “This will allow Kenyans to enjoy significantly higher interest rates on government securities compared to the bank deposits through a convenient platform with low entry threshold”.

The M-Akiba financial revolution plan began with collaboration between the Central Bank of Kenya and the World Bank to design the roadmap for its launch. The Telecoms would also have a role to play because potential investors will need a mobile phone line and a subscription to a mobile money service so that an electronic account with the central securities Depository (CDSC) or CBK can be opened on their behalf.

Photo Credit: whiteafrican via Compfight cc

Toluwanimi Adeyanju
Toluwanimi Adeyanju

I’m Adeyanju Toluwanimi| Strategic in disposition and great at combining several approaches to problem solving.

On January 22, 2022, be part of the largest gathering of innovators, startup founders, thinkers, programmers, policymakers, and investors in West Africa. Register free.

Notify of
Inline Feedbacks
View all comments

Recent News

Subscribe to Techpoint Digest!

A daily 5-minute roundup of happenings in African and global tech, sent directly to your email inbox, between 5 a.m. and 7 a.m (WAT) every week day!

Please check your email to confirm your subscription.

Subscribe to Crypto Explorer

A monthly series featuring in-depth analysis on the cryptocurrency sector in Africa

Please check your email to confirm your subscription.

Subscribe to The Experts

A bi-weekly where tech career specialists take us on their journey from newbie to expert, and how they became successful in the industry.

Please check your email to confirm your subscription.

Subscribe to Founder's Table

A monthly series, where we catch up with founders in the startup ecosystem, learn about their failures, successes and a few tricks of the trade

Please check your email to confirm your subscription.

Copy link
Powered by Social Snap