[UPDATE: Due to an impressive response from investors, the initial offer for the M-Akiba Bond closed five days earlier than scheduled. But don’t worry. The bond will soon be available for purchase on the secondary market. Stay tuned here for instructions on how to do so.]
Have you invested in the government of Kenya’s M-Akiba Bond?
If not, you likely have just a few more hours to participate in the initial offer. The mobile-only infrastructure bond has proven fantastically popular.
If you’re a Kenyan citizen and at least 18-years-old, it’s worth taking a look.
The minimum investment is just KES3,000 and it pays tax-exempt interest at a rate of 10% annually. And because the bond can be bought and sold on the secondary market, it makes a nice option to stash an emergency fund.
Sound interesting? If so, here are some last-minute instructions for how to invest.
How to Invest in M-Akiba
- Load your mobile money account with at least KES3,000 plus an amount sufficient to cover transaction charges.
- Dial *889#
- Set your personal identification number (PIN) and then click “OK.”
- Enter your national ID number.
- At the following prompt, dial “1.”
- Read the terms and conditions and, if you find them acceptable, dial “1” to proceed.
- Wait for a confirmation message, which will include your new M-Akiba account number.
- After receiving the confirmation message, dial *889# again.
- Enter your PIN.
- Select “1.”
- On the following screen select “1” to buy the M-Akiba bond.
- Enter the amount that you would like to invest.
- Confirm your investment amount.
- Press “9” to return to the main menu and await a confirmation message that you have been allocated the bond.
Were these instructions clear? Do you have questions about M-Akiba or the process for investing? Let’s hear them in the comments!
Good luck and check back here soon for more info on how to buy M-Akiba on the secondary market.