NAIROBI, May 27 (Xinhua) -- Kenya on Monday put up for sale mobile bond worth 250 million shillings (about 2.5 million U.S. dollars) as the Treasury sought to build on the success of two previous securities.
The mobile bond, dubbed M-AKiba, was floated by the Treasury, the Central Depository and Settlement Corporation (CDSC), and the Nairobi Securities Exchange (NSE). It came barely two months since another one was sold, attracting a subscription of 79 percent.
"M-Akiba re-open 2 seeks to raise 2.5 million dollars and is scheduled to run from May 27 to June 7," the three institutions said in a statement on Monday.
CDSC chief executive Rose Mambo said since inception, the bond has attracted over 459,586 investors.
"The bond has raised a total of 5.95 million dollars since inception. In the March offer alone, we were able to raise 1.97 million dollars against a target of 2.5 million dollars," she said.
NSE chief executive Geoffrey Odundo said the growth of the mobile bond is a testament of its ability to enhance financial inclusion as ordinary Kenyans can buy the security through their phones.
