NAIROBI, June 11 (Xinhua) -- Kenya raised 187.5 million shillings (1.87 million U.S. dollars) from a mobile bond dubbed M-Akiba, the National Treasury and the Nairobi Securities Exchange (NSE) said in a joint statement on Tuesday.
The bond, sold between May 26 to June 8, was worth 2.5 million dollars and attracted 75 percent subscription. It has subsequently been listed at the secondary market of the NSE.
The bond has continued to post growth in investor interest, enabling us to register over 500,000 investors onto the bond platform, said NSE chief executive Geoffrey Odundo.
"We will continue working with other partners to grow uptake of the bond which seeks to enhance socio-economic development in Kenya through democratizing access to the capital market," he said.
He added that the listing of the bond on the secondary market will enable Kenyans to trade it and enjoy a high return of 10 percent interest that is tax exempt.
Rose Mambo, chief executive of Central Depository and Settlement Corporation (CDSC), said since 2017, the institution has paid out a total of 671,625 dollars in interest payments to M-Akiba investors. The bond attracted 30,232 new registrations. Enditem
