Prime News Ghana

Kenya launches bond for mobile investors

By Justice Kofi Bimpeh
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Kenya's Treasury is launching a new government bond called M-Akiba, aimed at small investors who will be able to purchase the bonds via their mobile phone at a low cost.

So how exactly does it work? Aly Khan Satchu, a financial analyst and the chief executive of Rich Management in Nairobi, told BBC Newsday why he thought it was such an important development:
It allows anybody who has a mobile phone in Kenya to buy and sell government securities across that phone.
It really is democratising the financial markets. It's giving access to every Kenyan citizen to government securities.
People with as little as $30 can now invest in the capital markets."