The government has reopened the Sh5 billion M-Akiba infrastructure bond after the first issue was undersubscribed. In 2017, the Treasury offered Sh1 billion infrastructure bond with a Sh4 billion Greenshoe but only managed to get Sh247 million from the market. "We have issued Sh250 million today but we are not limited to it. We will float more in the near future depending on how this will perform'', Odundo said. M-Akiba is the first mobile phone based bond in the world.

Source: The Star February 25, 2019 10:41 UTC