The Kenyan government bond M-Akiba, sold through the mobile phone last year, was a victim of the failure by key players to listen to the target audience, says regional financial think tank FSD in a post-issuance survey carried out to explain its low uptake.
When it was issued in March last year, M-Akiba, the first mobile-based Treasury instrument to be sold in Africa, targeted $10 million but only raised about a quarter of that figure.
