Very soon, citizens of Kenya are going to be able to buy government bonds using their Mobile phones.
This was announced by Kenya’s Treasury saying that the M-Akiba bond, the world’s first mobile-only government bond, would go on sale on Thursday after a delay of almost two years.
Investors can buy in increments as small as 3,000 shillings (about $30), which is lower than the previous minimum of 50,000 shilling required buy government bonds.
The bond will be offered on M-Pesa, as well as other mobile money networks, and investors can buy and sell the bonds on the Nairobi Securities Exchange via their phones. Both smart phones and basic features phones can be used.