When M-Akiba was introduced in March 2017 it allowed anyone with as low as ksh 3000 to be an investor .Enabled through M-pesa and Airtel Money it made work easier for anyone whose ever been interested in investing in bonds .
Now its even better with M-kiba having partnered with Pesa Link,its allowing anyone signed up on the Pesa Link Platform to trade bonds from their mobile device using the platform.
And what actually makes everything easier is that you don’t have to remember some long 14 digit account number .With the introduction of a paybill number “899”.All you have to do is:
- Login to your individual Bank channel or App.
- Navigate to PesaLink option.
- Select Send to phone.
- Type 889as the mobile number
- Enter Amount.
- Enter reason for payment (For M-Akiba Bond, customers are required to insert their ID numbers).
confirmation of receipt will then take place
The money raised through M-Akiba bond is meant to fund infrastructural development projects run by the government.
Pesa Link is currently being offered by 26 banks which include ABC Bank, Bank of Africa, Barclays Bank, CBA, Consolidated Bank, Cooperative Bank, Credit Bank Ltd, DTB, Equity Bank, Family Bank, First Community Bank, Guardian Bank, Gulf African Bank, I&M Bank, Jamii Bora Bank, KCB Bank, KWFT Bank, Middle East Bank, NIC Bank, Paramount Bank, Prime Bank, SCB KE, Sidian Bank, Spire Bank, Stanbic Bank and Victoria Bank. The other banks are in different stages of testing the system and will eventually offer PesaLink to their customers once they receive approval from CBA.