Small logo Subscribe to leading news on impact investing. Learn More
The Brief Originals Dealflow Signals The Impact Alpha Impact Voices Podcasts Agents of Impact Open
What's Next Measure Better Investing in Racial Equity Beyond Aid Beyond Trade-offs Impact en las Americas New Revivalists Women Rising in India Operation Impact
Smarter Money Women Rising 2030 Finance Locavesting Inclusive Economy Regeneration Impact Tech New Power Geographies
Slack Conference Calls Events Contribute
The Archive ImpactSpace The Accelerator Selection Tool Network Map
About Us FAQ Calendar Pricing and Payment Policy Privacy Policy Terms of Service Agreement Contact Us
Industry News Impact Management Good Business Personal Finance Faith and investing Billionaires
Gender Lens Investing Women Rising in India
SDGs Climate Finance Clean Energy Innovative Finance Full Stack Capital Long-termism
Opportunity Zones Investing in place
Entrepreneurship Return on Inclusion Good Jobs Inclusive Fintech Creative economy Housing New Schooled Well Being People on the Move
Conservation Finance Farmer Finance Financing Fish
Blockchain/AI/IoT Urban Tech Food Tech Inclusive Fintech
Human Rights Democracy and Peace News and Information
Africa Asia Europe Latin America Middle East Oceania/Australia China Canada India United Kingdom United States Growth Markets
Subscribe
Features
Series
Themes
Community
Data
Subscribe Log In
More

Kenya taps mobile-money platforms to issue infrastructure bond



The Kenyan government has issued the first mobile phone-based bond to users of mobile-money platforms M-Pesa and Airtel to develop a new funding stream for infrastructure projects.

The bond, a 150 million KES ($1.5 million) offering called M-Akiba, reached a 50 percent subscription rate within a week and was bought by about 10,000 investors (suggesting large buyers are driving the numbers).

The minimum investment for the three-year bond is 3,000 KES ($30); it offers a 10 percent tax-free return. The Kenyan government intends to use the M-Akiba platform, which has 61,000 registered subscribers, for a 4.85 billion KES ($47 million) bond in June.

Only 38 percent of Kenyan adults have a bank account in a country of 47 million but there are more than 33 million mobile phone subscriptions and 25 million M-Pesa accounts.

This post originally appeared in ImpactAlpha’s daily newsletter. Get The Brief.

Photo credit: REUTERS/Thomas Mukoya

You might also like...