Why Treasury failed to hit M-Akiba target

National Treasury Cabinet Secretary Henry Rotich (centre), Nairobi Securities Exchange Chairman Samuel Kimani (left) Central Depository’s Rose Mambo and Capital Markets Authority Chief Executive Paul Muthaura during the launch of M-Akiba on June 30, this year. [File, Standard]

It took the Government 21 months of planning before launching what was billed as the world’s first mobile-traded retail bond, M-Akiba bond.

The idea was simple: get any Kenyan in possession of a mobile phone to lend Government as little as Sh3,000 to help fund infrastructure projects.