The National Treasury is set to expand the cash limit for the M-Akiba bond in its second offer.
The Sh. 4.85 billion second offer will be launched this month.
According to reports, investors will be able to exceed that daily limit when the second tranche of the M-Akiba bond hits the capital markets in two weeks as the Treasury targets high sales.
In the first offer of Sh. 150 million bond which was launched in March, investors could only put in between the minimum Sh. 3,000 and maximum Sh. 140,000 a day.
The bids ranged between Sh. 3,000 and Sh. 1.13 million from a total of 5,692 investors. Treasury data indicated that 102,632 people registered on the M-Akiba mobile platform, but only 5.5 per cent of them actually invested in the inaugural offer. Safaricom’s M-Pesa platform handled Sh. 142 million of the total amount while Airtel Money transacted Sh. 8 million, underlining Safaricom’s dominance of the mobile money business.