Banks hold edge in M-Akiba bond

National Treasury Cabinet Secretary Henry Rotich launches the M-Akiba bond offer at Nairobi Securities Exchange (NSE). He was accompanied by NSE Chairman Samuel Kimani (left), Central Depository and Settlement Corporation CEO Rose Mambo and Capital Markets Authority CEO Paul Muthaura. [Photo: Jonah Onyango, Standard]

Banks have the opportunity to reap big from the just-launched Sh4.85 billion M-Akiba bond that was a preserve of two telcos in the initial offer.

Riding on their newly launched PesaLink switch, a product developed by Kenya Bankers Association (KBA) through its subsidiary Integrated Payment Services, lenders will be well placed to muscle out the telcos on volumes.