The National Treasury will tomorrow launch the first ever mobile-traded bond, ending over 17 months of waiting. However, according to the prospectus of the M-Akiba bond dubbed “special edition”, the Government has scaled down its ambitions of issuing a five-year bond of Sh5 billion to a three-year bond of just Sh150 million. The initial bond offer had been planned to take off in October 2015, but erratic conditions In the market scuttled the plan. Once the special bond is in full course, individuals will be able to bid up to a maximum of Sh140,000 per day for the income tax-free bond. That time, interest rates had risen to 22 per cent for short-term Government papers.

Source: Standard Digital March 21, 2017 18:22 UTC