The reopened M-Akiba retail infrastructure bond has now been approved for listing on Nairobi Securities Exchange after failing to hit the target. This tranche, which was on offer from February 25 to March 10, managed only Sh197 million against a target of Sh250 million. The government reopened sale of the mobile-based Sh5 billion infrastructure bond hoping to attract more takers after low subscription two years ago. In the first issue, Treasury offered a Sh1 billion infrastructure bond with a Sh4 billion green shoe but only managed to get Sh247 million from the market. According to NSE chief executive Geoffrey Odundo, the 79 per cent subscription rate is a clear indication of Kenyans investment appetite and an affirmation of the need for more innovative financial products in our market.

Source: The Star March 18, 2019 12:56 UTC