The government through the treasury is planning to raise Ksh 500 million through M-Akiba between Tuesday,21st and 6th September this year.
The M-Akiba is bond that was launched in 2017 to finance the infrastructure development in the country, like roads, dams, electricity, etc.
Unlike other Treasury bonds, M-Akiba has three years expires with a 10 percent per annum free of tax. Currently, treasury bills attract 9.19 percent per annum with withholding tax.
M-Akiba launched by the treasury will expire on September 2020, meaning the expire of the paper has been reduced to only one year to attract the public.
Treasury Bills has a minimum value of 50,000 shillings and has 9.19% per annum.
M-Akiba is targeting common mwanachi in that the threshold of owning it, is as little as Ksh 3000.
The government has since raised 782 million shillings through the bond. With the latest launch, the government will raise the accumulated loan of 782 million to 1.282 billion shillings if it goes successfully.