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Kenya

Treasury completes final interest payout to M-AKIBA bond investors

NAIROBI, Kenya, Sep 7- The Central Depository and Settlement Corporation (CDSC) as the issuing and paying agent for The National Treasury (TNT), has today paid out the principal amount and final interest of Sh935 million to 13,592M-Akiba 2Retail Infrastructure Bond investors.

M-Akiba 2 was first issued on 30 June 2017, after a successful pilot phase launch of M-Akiba 1 on 23 March 2017.

The final interest and principal amount paid out to M-Akiba Sh44 million and Sh.891 million respectively.

This follows the final payout in April 2020 to 5,609 M-Akiba 1 Retail Infrastructure Bond investors totaling Sh.

157million.

M-Akiba 2 Retail Infrastructure Bond Investors have previously received five interest payments on March 9, 2018, September 9, 2018, March9, 2019, September 9, 2019 and March 9, 2020 totaling Sh222 million.

To date, a total of Sh312 million has been paid out in interest to all M-Akiba Retail Infrastructure Bond Investors and Sh.1 billion raised from the five Bond Issues since 2017.

CDSC also recorded a total of 582,572M-Akiba registrations since the first Issuance in June 2017.

CDSC Chief Executive Nkoregamba Mwebesa, thanked Kenyans from all walks of life, from every corner of this country and in the diaspora, who participated in the two M-Akiba Bond issues with interest and optimism.

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Nkoregamba also thanked the National Treasury for bestowing confidence in CDSC as the issuing and paying agent during the M-Akiba Bond tenure.

The Chief Executive also thanked the Capital Markets Authority (CMA), Nairobi Securities Exchange (NSE), Integrated Payment Services Limited (Pesalink), Safaricom PLC and Airtel Kenyafor partnering with CDSC during the Bond issuance and coupon payments.

Nkoregamba further reaffirmed that the objectives of the M-Akiba Retail Infrastructure Bond were achieved.

The National Treasury was able to leverage on increased mobile phone penetration across the Country to democratize access to formal financial systems for savings and investments among Kenyans

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