The market said that the suspension was meant to stop any fraudulent activities just 24 hours after it started trading.
“Secondary trading of M-Akiba has been temporarily stopped due to a communications hitch between trading and depository systems, which caused delay in settlement of trades,” a senior Treasury official stated on Wednesday.
The official added that engineers were working on the issue to ensure its rectified as soon as possible.
M-Akiba met set targets ahead of time after 5,692 investors bought the bond worth Sh150 million.
A bigger launch targeting to raise Sh4.85 billion bond is planned for June and will be officially be unveiled by President Uhuru Kenyatta.
Meanwhile, here are the necessary requirements for one to be able to access the M-akiba bond.
Requirements.
Process
M-Akiba is easy to use, the first step is dialing *889# on your handset and following simple steps to open a CDS account. The process is such that one will be directed on the registration process and all the necessary Central Bank of Kenya guidelines of Know Your Customer (KYC) verified in three or less simple steps.
The good news is any phone can access this process be it a smartphone or a simple feature phone.
Eyewitness? Submit your stories now via social or:
Email: news@pulselive.co.ke
