Kenya has become the first country in the World to sell govt bonds through phone

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Dar es Salaam Stock Exchange Trading Now Goes Mobile

Written by Tanzania Daily News Published: August 20, 2015 6:49 PM

The Dar es Salaam Stock Exchange (DSE) has started to use mobile phones platform on buying and selling shares and bonds.

The platform that is user friendly envisages widening the equity and debt trading activities especially upcountry where brokers are not present.

The DSE Chief Executive Officer, Mr Moremi Marwa, said the platform designed by Maxcom Africa follows abide with all regulations regarding selling and buying shares.

"The CRDB Bank right issue listing is used as the launch pad for the mobile platform, from today everyone could trade using mobile phone," Mr Marwa said during the listing of CRDB shares.

To buy or sell share simply dial *150*36# and the software will direct the user on the next step until the transaction is completed.

"The buyer or seller mobile transactions will still pass to the stockbroker for effecting the trading," Mr Marwa said. Simply, the investors in remote places will be able to access the bourse's Trading and Depository platform through their mobile phones via virtual stock brokers.

According to DSE, under the initiative, investors can buy and sell shares, bonds and any future listed instruments without physically visiting stock brokers or agents.

"We envisage that this initiative will deepen even further accessibility of financial products which are listed in our stock exchange," Mr Marwa said.

The trading rules -- as they related to trading, delivery and settlement of securities and cash will apply as is currently the case. The Maxcom Africa Managing Director, Mr Juma Rajabu, said the Tanzania become the first bourse in Africa to use the mobile phone trading platform.

"The buyers and sellers will not be charged anything, only the usual charge of trading transaction imposed by DSE will be applied," Mr Rajabu said.

CRDB Bank acting Managing Director Esther Kitoka said they are glad that the bourse has picked them as the launching pad of the mobile phone trading.

"We will continue to support initiative to make the trading at DSE easier," Ms Kitoka said. Initially, the Mwalimu Bank initial public offer used the mobile phone transaction platforms hence enabling it to get oversubscription.

Due to mobile phone platform, Core Securities CEO Mr George Fumbuka told 'Daily News' earlier that for the first time upcountry's buyers are dominating the Mwalimu Bank primary offer unlike the previous ones where Dar es Salaam topped the list.

DSE quickly took this advantage by enabling the public to have access to the bourse activities on their mobile phones. The Tanzania Communications Regulatory Authority put the number of mobile phone users in Tanzania by last year as 31.86 million.

The mobile phones are expected to speed up the understanding of how are capital markets important for personal investment.

There is still a low participation in the market as about 200,000 people take part. These are fewer compared with Tanzania's population of about 50 million.





Copyright © 2016 AM Investor Services SPRL. All Rights Reserved.

mulanKE said:

Geza hajawai elewa... Inaitwa patriotism syndrome disease

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Dar es Salaam Stock Exchange Trading Now Goes Mobile

Written by Tanzania Daily News Published: August 20, 2015 6:49 PM

The Dar es Salaam Stock Exchange (DSE) has started to use mobile phones platform on buying and selling shares and bonds.

The platform that is user friendly envisages widening the equity and debt trading activities especially upcountry where brokers are not present.

The DSE Chief Executive Officer, Mr Moremi Marwa, said the platform designed by Maxcom Africa follows abide with all regulations regarding selling and buying shares.

"The CRDB Bank right issue listing is used as the launch pad for the mobile platform, from today everyone could trade using mobile phone," Mr Marwa said during the listing of CRDB shares.

To buy or sell share simply dial *150*36# and the software will direct the user on the next step until the transaction is completed.

"The buyer or seller mobile transactions will still pass to the stockbroker for effecting the trading," Mr Marwa said. Simply, the investors in remote places will be able to access the bourse's Trading and Depository platform through their mobile phones via virtual stock brokers.

According to DSE, under the initiative, investors can buy and sell shares, bonds and any future listed instruments without physically visiting stock brokers or agents.

"We envisage that this initiative will deepen even further accessibility of financial products which are listed in our stock exchange," Mr Marwa said.

The trading rules -- as they related to trading, delivery and settlement of securities and cash will apply as is currently the case. The Maxcom Africa Managing Director, Mr Juma Rajabu, said the Tanzania become the first bourse in Africa to use the mobile phone trading platform.

"The buyers and sellers will not be charged anything, only the usual charge of trading transaction imposed by DSE will be applied," Mr Rajabu said.

CRDB Bank acting Managing Director Esther Kitoka said they are glad that the bourse has picked them as the launching pad of the mobile phone trading.

"We will continue to support initiative to make the trading at DSE easier," Ms Kitoka said. Initially, the Mwalimu Bank initial public offer used the mobile phone transaction platforms hence enabling it to get oversubscription.

Due to mobile phone platform, Core Securities CEO Mr George Fumbuka told 'Daily News' earlier that for the first time upcountry's buyers are dominating the Mwalimu Bank primary offer unlike the previous ones where Dar es Salaam topped the list.

DSE quickly took this advantage by enabling the public to have access to the bourse activities on their mobile phones. The Tanzania Communications Regulatory Authority put the number of mobile phone users in Tanzania by last year as 31.86 million.

The mobile phones are expected to speed up the understanding of how are capital markets important for personal investment.

There is still a low participation in the market as about 200,000 people take part. These are fewer compared with Tanzania's population of about 50 million.





Copyright © 2016 AM Investor Services SPRL. All Rights Reserved.

hydrogen said:

Hahaha.... uzee naona ushaingia!!!

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Markets Tanzania (DSE)

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Dar es Salaam Stock Exchange Trading Now Goes Mobile

Written by Tanzania Daily News Published: August 20, 2015 6:49 PM

The Dar es Salaam Stock Exchange (DSE) has started to use mobile phones platform on buying and selling shares and bonds.

The platform that is user friendly envisages widening the equity and debt trading activities especially upcountry where brokers are not present.

The DSE Chief Executive Officer, Mr Moremi Marwa, said the platform designed by Maxcom Africa follows abide with all regulations regarding selling and buying shares.

"The CRDB Bank right issue listing is used as the launch pad for the mobile platform, from today everyone could trade using mobile phone," Mr Marwa said during the listing of CRDB shares.

To buy or sell share simply dial *150*36# and the software will direct the user on the next step until the transaction is completed.

"The buyer or seller mobile transactions will still pass to the stockbroker for effecting the trading," Mr Marwa said. Simply, the investors in remote places will be able to access the bourse's Trading and Depository platform through their mobile phones via virtual stock brokers.

According to DSE, under the initiative, investors can buy and sell shares, bonds and any future listed instruments without physically visiting stock brokers or agents.

"We envisage that this initiative will deepen even further accessibility of financial products which are listed in our stock exchange," Mr Marwa said.

The trading rules -- as they related to trading, delivery and settlement of securities and cash will apply as is currently the case. The Maxcom Africa Managing Director, Mr Juma Rajabu, said the Tanzania become the first bourse in Africa to use the mobile phone trading platform.

"The buyers and sellers will not be charged anything, only the usual charge of trading transaction imposed by DSE will be applied," Mr Rajabu said.

CRDB Bank acting Managing Director Esther Kitoka said they are glad that the bourse has picked them as the launching pad of the mobile phone trading.

"We will continue to support initiative to make the trading at DSE easier," Ms Kitoka said. Initially, the Mwalimu Bank initial public offer used the mobile phone transaction platforms hence enabling it to get oversubscription.

Due to mobile phone platform, Core Securities CEO Mr George Fumbuka told 'Daily News' earlier that for the first time upcountry's buyers are dominating the Mwalimu Bank primary offer unlike the previous ones where Dar es Salaam topped the list.

DSE quickly took this advantage by enabling the public to have access to the bourse activities on their mobile phones. The Tanzania Communications Regulatory Authority put the number of mobile phone users in Tanzania by last year as 31.86 million.

The mobile phones are expected to speed up the understanding of how are capital markets important for personal investment.

There is still a low participation in the market as about 200,000 people take part. These are fewer compared with Tanzania's population of about 50 million.





Copyright © 2016 AM Investor Services SPRL. All Rights Reserved.

Kimyaaaa......

Depay said:

Tehehe.... Tangu independence Tz wamekuwa wakiuza.

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Markets Tanzania (DSE)

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Dar es Salaam Stock Exchange Trading Now Goes Mobile

Written by Tanzania Daily News Published: August 20, 2015 6:49 PM

The Dar es Salaam Stock Exchange (DSE) has started to use mobile phones platform on buying and selling shares and bonds.

The platform that is user friendly envisages widening the equity and debt trading activities especially upcountry where brokers are not present.

The DSE Chief Executive Officer, Mr Moremi Marwa, said the platform designed by Maxcom Africa follows abide with all regulations regarding selling and buying shares.

"The CRDB Bank right issue listing is used as the launch pad for the mobile platform, from today everyone could trade using mobile phone," Mr Marwa said during the listing of CRDB shares.

To buy or sell share simply dial *150*36# and the software will direct the user on the next step until the transaction is completed.

"The buyer or seller mobile transactions will still pass to the stockbroker for effecting the trading," Mr Marwa said. Simply, the investors in remote places will be able to access the bourse's Trading and Depository platform through their mobile phones via virtual stock brokers.

According to DSE, under the initiative, investors can buy and sell shares, bonds and any future listed instruments without physically visiting stock brokers or agents.

"We envisage that this initiative will deepen even further accessibility of financial products which are listed in our stock exchange," Mr Marwa said.

The trading rules -- as they related to trading, delivery and settlement of securities and cash will apply as is currently the case. The Maxcom Africa Managing Director, Mr Juma Rajabu, said the Tanzania become the first bourse in Africa to use the mobile phone trading platform.

"The buyers and sellers will not be charged anything, only the usual charge of trading transaction imposed by DSE will be applied," Mr Rajabu said.

CRDB Bank acting Managing Director Esther Kitoka said they are glad that the bourse has picked them as the launching pad of the mobile phone trading.

"We will continue to support initiative to make the trading at DSE easier," Ms Kitoka said. Initially, the Mwalimu Bank initial public offer used the mobile phone transaction platforms hence enabling it to get oversubscription.

Due to mobile phone platform, Core Securities CEO Mr George Fumbuka told 'Daily News' earlier that for the first time upcountry's buyers are dominating the Mwalimu Bank primary offer unlike the previous ones where Dar es Salaam topped the list.

DSE quickly took this advantage by enabling the public to have access to the bourse activities on their mobile phones. The Tanzania Communications Regulatory Authority put the number of mobile phone users in Tanzania by last year as 31.86 million.

The mobile phones are expected to speed up the understanding of how are capital markets important for personal investment.

There is still a low participation in the market as about 200,000 people take part. These are fewer compared with Tanzania's population of about 50 million.





Copyright © 2016 AM Investor Services SPRL. All Rights Reserved.

Jay456watt said:

By Duncan Miriri

NAIROBI (Reuters) - Kenya began selling a government bond exclusively via mobile phones on Thursday, a world first aimed at expanding the pool of investors in a country that needs money for infrastructure projects and where many people don't have a bank account.

The three-year bond, called M-Akiba, can be bought by phone users without any need for a bank account. The issue is likely to be monitored by treasuries in other emerging economies, most of which would like to broaden sources of borrowing beyond banks and other financial institutions.

The government made a limited offer of 150 million shillings ($1.5 million) on Thursday to test the system before a bigger offer of 4.85 billion shillings planned for June. A large screen in the main boardroom of the treasury in downtown Nairobi showed about 200 investors had put in about 600,000 shillings within an hour of the start of the sale.

Kenya has borrowed heavily in the past four years to fund an ambitious development programme, including new roads and a new coast-capital railway, and the government wants to raise more cash. But few ordinary Kenyans bought government bonds, scared off by the minimum investment of 50,000 shillings and the need for a commercial bank account.

Investors can buy the bond for as little as 3,000 shillings, earning a tax-free interest of 10 percent. They will be able to trade it on the secondary market.

"The sale of government bonds in very small amounts through the mobile phone with no need of a bank account is a first in the world," said Mehnaz Safavian, the lead financial sector specialist at the World Bank's Kenya office.

MILLIONS OF MOBILE USERS

Only 38 percent of adults have a bank account in the country of 44 million people, compared with 77 percent in South Africa, according to FSD Kenya, a U.K.-funded development programme working to expand access to financial services.

But there were 38.5 million mobile phone subscriptions as of last September, Kenya's telecoms regulator said, and Finance Minister Henry Rotich said they were all potential investors that could reduce government dependence on outside financing.

The new bond will be offered on the mobile financial service M-Pesa and similar services that allow users who don't have bank accounts to pay bills and move money via phones. Both bond purchases and coupon payments will be made through phones.

It represents a further expansion by telecoms operators into areas that have traditionally been the province of banks. Safaricom , which started M-Pesa in 2007, now also offers savings, lending and insurance products.

Rotich said the 10 percent interest rate offered by M-Akiba, higher than 7 percent for bank deposits, could drive demand.

Analysts said the new bond would help the government secure cheaper long-term financing.

"It should allow the authorities to tap into informal savings pools," said Razia Khan, head of research for Africa at Standard Chartered in London.

Patrick Njoroge, the central bank governor, said it could also boost Kenya's national savings rate, one of the lowest in the world at 12 percent of GDP.

"This is a product that will dramatically improve the savings culture of our people," he said.

($1 = 102.8000 Kenyan shillings)

(Editing by Katharine Houreld and Pravin Char)

Click to expand...

Jay456watt said:

By Duncan Miriri

NAIROBI (Reuters) - Kenya began selling a government bond exclusively via mobile phones on Thursday, a world first aimed at expanding the pool of investors in a country that needs money for infrastructure projects and where many people don't have a bank account.

The three-year bond, called M-Akiba, can be bought by phone users without any need for a bank account. The issue is likely to be monitored by treasuries in other emerging economies, most of which would like to broaden sources of borrowing beyond banks and other financial institutions.

The government made a limited offer of 150 million shillings ($1.5 million) on Thursday to test the system before a bigger offer of 4.85 billion shillings planned for June. A large screen in the main boardroom of the treasury in downtown Nairobi showed about 200 investors had put in about 600,000 shillings within an hour of the start of the sale.

Kenya has borrowed heavily in the past four years to fund an ambitious development programme, including new roads and a new coast-capital railway, and the government wants to raise more cash. But few ordinary Kenyans bought government bonds, scared off by the minimum investment of 50,000 shillings and the need for a commercial bank account.

Investors can buy the bond for as little as 3,000 shillings, earning a tax-free interest of 10 percent. They will be able to trade it on the secondary market.

"The sale of government bonds in very small amounts through the mobile phone with no need of a bank account is a first in the world," said Mehnaz Safavian, the lead financial sector specialist at the World Bank's Kenya office.

MILLIONS OF MOBILE USERS

Only 38 percent of adults have a bank account in the country of 44 million people, compared with 77 percent in South Africa, according to FSD Kenya, a U.K.-funded development programme working to expand access to financial services.

But there were 38.5 million mobile phone subscriptions as of last September, Kenya's telecoms regulator said, and Finance Minister Henry Rotich said they were all potential investors that could reduce government dependence on outside financing.

The new bond will be offered on the mobile financial service M-Pesa and similar services that allow users who don't have bank accounts to pay bills and move money via phones. Both bond purchases and coupon payments will be made through phones.

It represents a further expansion by telecoms operators into areas that have traditionally been the province of banks. Safaricom , which started M-Pesa in 2007, now also offers savings, lending and insurance products.

Rotich said the 10 percent interest rate offered by M-Akiba, higher than 7 percent for bank deposits, could drive demand.

Analysts said the new bond would help the government secure cheaper long-term financing.

"It should allow the authorities to tap into informal savings pools," said Razia Khan, head of research for Africa at Standard Chartered in London.

Patrick Njoroge, the central bank governor, said it could also boost Kenya's national savings rate, one of the lowest in the world at 12 percent of GDP.

"This is a product that will dramatically improve the savings culture of our people," he said.

($1 = 102.8000 Kenyan shillings)

(Editing by Katharine Houreld and Pravin Char)

Click to expand...

Unaweza kuondoa huu utumbo?

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Markets Tanzania (DSE)

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Dar es Salaam Stock Exchange Trading Now Goes Mobile

Written by Tanzania Daily News Published: August 20, 2015 6:49 PM

The Dar es Salaam Stock Exchange (DSE) has started to use mobile phones platform on buying and selling shares and bonds.

The platform that is user friendly envisages widening the equity and debt trading activities especially upcountry where brokers are not present.

The DSE Chief Executive Officer, Mr Moremi Marwa, said the platform designed by Maxcom Africa follows abide with all regulations regarding selling and buying shares.

"The CRDB Bank right issue listing is used as the launch pad for the mobile platform, from today everyone could trade using mobile phone," Mr Marwa said during the listing of CRDB shares.

To buy or sell share simply dial *150*36# and the software will direct the user on the next step until the transaction is completed.

"The buyer or seller mobile transactions will still pass to the stockbroker for effecting the trading," Mr Marwa said. Simply, the investors in remote places will be able to access the bourse's Trading and Depository platform through their mobile phones via virtual stock brokers.

According to DSE, under the initiative, investors can buy and sell shares, bonds and any future listed instruments without physically visiting stock brokers or agents.

"We envisage that this initiative will deepen even further accessibility of financial products which are listed in our stock exchange," Mr Marwa said.

The trading rules -- as they related to trading, delivery and settlement of securities and cash will apply as is currently the case. The Maxcom Africa Managing Director, Mr Juma Rajabu, said the Tanzania become the first bourse in Africa to use the mobile phone trading platform.

"The buyers and sellers will not be charged anything, only the usual charge of trading transaction imposed by DSE will be applied," Mr Rajabu said.

CRDB Bank acting Managing Director Esther Kitoka said they are glad that the bourse has picked them as the launching pad of the mobile phone trading.

"We will continue to support initiative to make the trading at DSE easier," Ms Kitoka said. Initially, the Mwalimu Bank initial public offer used the mobile phone transaction platforms hence enabling it to get oversubscription.

Due to mobile phone platform, Core Securities CEO Mr George Fumbuka told 'Daily News' earlier that for the first time upcountry's buyers are dominating the Mwalimu Bank primary offer unlike the previous ones where Dar es Salaam topped the list.

DSE quickly took this advantage by enabling the public to have access to the bourse activities on their mobile phones. The Tanzania Communications Regulatory Authority put the number of mobile phone users in Tanzania by last year as 31.86 million.

The mobile phones are expected to speed up the understanding of how are capital markets important for personal investment.

There is still a low participation in the market as about 200,000 people take part. These are fewer compared with Tanzania's population of about 50 million.





Copyright © 2016 AM Investor Services SPRL. All Rights Reserved.

Mwanzi1 said:

Kimyaaaa......

Click to expand...

Wajinga sana hawa watu..

Geza Ulole said:

Wajinga sana hawa watu..

Click to expand...

Jamaa wana maneno mengi kwa vitu vya kawaida sana. Kutuma hela kutoka kampuni moja ya simu kwende nyingine, kwao kizungumkuti wakati sisi siku nyingi tumekamilisha. Na sasa tunaaza ku phase out paper money.

Mwanzi1 said:

Jamaa wana maneno mengi kwa vitu vya kawaida sana. Kutuma hela kutoka kampuni moja ya simu kwende nyingine, kwao kizungumkuti wakati sisi siku nyingi tumekamilisha. Na sasa tunaaza ku phase out paper money.

Click to expand...

Wewe unajua mwanzo M Akiba inavyofanya kazi??

Edward Wanjala said:

Wewe unajua mwanzo M Akiba inavyofanya kazi??

Click to expand...

Sasa ulichoandika wewe na nilichoandika mimi vinahusiana nini? sisi wenzenu taratubu tunaaza kuachana na pesa za karatasi mpaka kwa muuza maandazi.

http://maxcomafrica.com/about-us/

Mwanzi1 said:

Sasa ulichoandika wewe na nilichoandika mimi vinahusiana nini? sisi wenzenu taratubu tunaaza kuachana na pesa za karatasi mpaka kwa muuza maandazi.

http://maxcomafrica.com/about-us/

Click to expand...

if there is any country in the world which is leading in phasing out paper money it is kenya...use google kidogo...stop ignorance...what u r doing now we already did...let this sink in ur thick TZ heads..
http://www.economist.com/blogs/economist-explains/2013/05/economist-explains-18
http://www.techrepublic.com/article/the-worlds-unlikely-leader-in-mobile-payments-kenya/
https://www.quora.com/Why-does-Kenya-lead-the-world-in-mobile-money
http://cio.co.ke/news/top-stories/g...the-world-in-mobile-money-account-penetration
http://www.cnbc.com/2013/11/11/cashless-africa-kenyas-smash-success-with-mobile-money.html
http://blogs.worldbank.org/africacan/how-kenya-became-a-world-leader-for-mobile-money

Jay456watt said:

if there is any country in the world which is leading in phasing out paper money it is kenya...use google kidogo...stop ignorance...what u r doing now we already did...let this sink in ur thick TZ heads..
http://www.economist.com/blogs/economist-explains/2013/05/economist-explains-18
http://www.techrepublic.com/article/the-worlds-unlikely-leader-in-mobile-payments-kenya/
https://www.quora.com/Why-does-Kenya-lead-the-world-in-mobile-money
http://cio.co.ke/news/top-stories/g...the-world-in-mobile-money-account-penetration
http://www.cnbc.com/2013/11/11/cashless-africa-kenyas-smash-success-with-mobile-money.html
http://blogs.worldbank.org/africacan/how-kenya-became-a-world-leader-for-mobile-money

Click to expand...

Ikiwa mpaka leo hii watu hawawezi kuhamisha pesa from one provider to the other "kirahisi" (interoperability), mnategema nini? Wenzu tulianza tokea 2014.
http://www.cgap.org/blog/tanzania-ready-interoperability-mobile-money

http://allafrica.com/stories/201602180528.html

Cashless sio ndoto tena kwetu, its happening na inakwenda mpaka kwa muuza chapati. Tutawaacha na makarati ya shillingi.

Mwanzi1 said:

Ikiwa mpaka leo hii watu hawawezi kuhamisha pesa from one provider to the other "kirahisi" (interoperability), mnategema nini? Wenzu tulianza tokea 2014.
http://www.cgap.org/blog/tanzania-ready-interoperability-mobile-money

http://allafrica.com/stories/201602180528.html

Cashless sio ndoto tena kwetu, its happening na inakwenda mpaka kwa muuza chapati. Tutawaacha na makarati ya shillingi.

Click to expand...

who told you there is no interopability among our network providers..as far as i know, one can send money from safaricom MPESA to ORANGE money or AIRTEL..i told you use google kidogo...it wont hurt you

Jay456watt said:

who told you there is no interopability among our network providers..as far as i know, one can send money from safaricom MPESA to ORANGE money or AIRTEL..i told you use google kidogo...it wont hurt you
View attachment 486411

Click to expand...

Here is the thing, I think maybe haujuwi nasema nini. Back 2014 the mobile money transfer provider sat down a agree to form an alliance which they will share the platform on money transfer and other services. The service user can send and receive money from any networks with no bank involved. That was 2014 and its started 2015. Kenya mlikuwa bado hamjuwi mfanye nini because Safaricom was dominating the mobile money business (I'm sure they still do to this day). The question is, were did Kenya learn the idea of interoperability?

https://www.google.co.uk/amp/www.ca...money-interoperability-inevitable-expert/amp/

http://www.africanbusinesscentral.c...anzanias-mobile-money-revolution-infographic/

Cashless is our next revolution all the way to the smallest village.

Jay456watt, Kenya hamna interoperapidity! Shenzy wee leta evidence ya kwamba ipo na ina-work

In short, Tanzania has 2 World records in bags interoperability n first to sell stocks n bonds via Mpesa. Kenya muache kulala...

Gezaulole u need mathari hospital

Dont waste your time arguing with Tanzanians...Kenya is recognized globally as a pioneer and leader of mobile money technlogy and that is a fact..even the technology being used in Tanzania was borrowed from kenya by use of patenting. It is a fact that Kenya is the first country to sell bonds via mobile whether Tanzanians accept it or not or whether they claim to have done it..Here is even more info from international media BBC
Kenya starts selling bonds via mobile phones

• 23 March 2017
  
• From the sectionBusiness

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Image captionKenya's government is initially seeking to raise $1.5m (£1.2m) from the mobile bonds
Kenya has become the first country to exclusively sell government bonds to citizens via their mobile phones, as it seeks new ways of raising money.

The country is already a pioneer in the use of mobile money.

The government is looking to tap into that network by allowing mobile phone users to trade the government securities across their phones.

Kenyans can buy one of the bonds for as little as 3,000 Kenyan shillings ($30; £23), the country's central bank said.

Kenya's banking system is fuelled by mobile payments.

The main provider of mobile transactions, M-Pesa - which is Swahili for money - has about 20 million users, and there are more than 100 times as many M-Pesa kiosks as there are cash machines in Kenya.

Access
Finance Minister Henry Rotich said the government was initially making a limited offer of 150 million shillings to test the new bond before a bigger offer in June.

Kenya has borrowed heavily in the past four years to fund an ambitious construction programme, including roads and a new railway.

The bond, called M-Akiba, can be bought by phone users without any need for a bank account and pays an estimated interest of 10%.

Aly Khan Satchu, a financial analyst in Nairobi, told the BBC: "It's giving access to every Kenyan citizen to government securities.

"The idea of collecting nickel and dimes and aggregating them will be a source of potentially cheap money for the government.

"But I think ultimately it's a story about enfranchisement - allowing people with as little as $30 to invest in the capital markets. That's a good thing."

The country's central bank governor, Patrick Njoroge, said the bond would "dramatically improve the savings culture of our people".

Ronak Gadhia, an analyst at Exotix Partners, said he believed it was the first country to issue such bonds.

"And that is because no other country in the world has adopted mobile banking as much as Kenya has."

Analysis: Nancy Kacungira, BBC News reporter, Nairobi
Kenya's mobile-traded government bond has been in the works since 2015, and was finally launched today.

For as little as $30, Kenyan mobile users can now lend to the government and get paid a tax-free interest of 10% every six months.

Even though the minimum requirement is very low, government bonds have always been the preserve of the well-to-do, and a high level of awareness will be required for less investment-savvy individuals to take this up.

The success of this bond would shake up financial services by giving small investors alternatives to low interest earning accounts in banks, mobile money wallets, and savings co-operatives.

Apart from encouraging people to save, the platform will provide the Kenyan government with a new source of cheap money that it intends to use to finance large infrastructure projects.

Currently, only 2% of government bonds in Kenya are bought and sold by individual investors.

Geza Ulole said:

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Dar es Salaam Stock Exchange Trading Now Goes Mobile

Written by Tanzania Daily News Published: August 20, 2015 6:49 PM

The Dar es Salaam Stock Exchange (DSE) has started to use mobile phones platform on buying and selling shares and bonds.

The platform that is user friendly envisages widening the equity and debt trading activities especially upcountry where brokers are not present.

The DSE Chief Executive Officer, Mr Moremi Marwa, said the platform designed by Maxcom Africa follows abide with all regulations regarding selling and buying shares.

"The CRDB Bank right issue listing is used as the launch pad for the mobile platform, from today everyone could trade using mobile phone," Mr Marwa said during the listing of CRDB shares.

To buy or sell share simply dial *150*36# and the software will direct the user on the next step until the transaction is completed.

"The buyer or seller mobile transactions will still pass to the stockbroker for effecting the trading," Mr Marwa said. Simply, the investors in remote places will be able to access the bourse's Trading and Depository platform through their mobile phones via virtual stock brokers.

According to DSE, under the initiative, investors can buy and sell shares, bonds and any future listed instruments without physically visiting stock brokers or agents.

"We envisage that this initiative will deepen even further accessibility of financial products which are listed in our stock exchange," Mr Marwa said.

The trading rules -- as they related to trading, delivery and settlement of securities and cash will apply as is currently the case. The Maxcom Africa Managing Director, Mr Juma Rajabu, said the Tanzania become the first bourse in Africa to use the mobile phone trading platform.

"The buyers and sellers will not be charged anything, only the usual charge of trading transaction imposed by DSE will be applied," Mr Rajabu said.

CRDB Bank acting Managing Director Esther Kitoka said they are glad that the bourse has picked them as the launching pad of the mobile phone trading.

"We will continue to support initiative to make the trading at DSE easier," Ms Kitoka said. Initially, the Mwalimu Bank initial public offer used the mobile phone transaction platforms hence enabling it to get oversubscription.

Due to mobile phone platform, Core Securities CEO Mr George Fumbuka told 'Daily News' earlier that for the first time upcountry's buyers are dominating the Mwalimu Bank primary offer unlike the previous ones where Dar es Salaam topped the list.

DSE quickly took this advantage by enabling the public to have access to the bourse activities on their mobile phones. The Tanzania Communications Regulatory Authority put the number of mobile phone users in Tanzania by last year as 31.86 million.

The mobile phones are expected to speed up the understanding of how are capital markets important for personal investment.

There is still a low participation in the market as about 200,000 people take part. These are fewer compared with Tanzania's population of about 50 million.





Copyright [emoji767] 2016 AM Investor Services SPRL. All Rights Reserved.

Click to expand...

Nimecheka kweli,
Halafu hii habari ni ya 2015,
Majamaa yanabwabwaja Leo.

Nyie wakenya ni washamba kinoma
Vitu vya kawaida kabisa kelele mobu,
ndio maana wachina wanawauzia vyuma chakavu.

Asante kama Geza. You killed em softly.

LangatKipro said:

Dont waste your time arguing with Tanzanians...Kenya is recognized globally as a pioneer and leader of mobile money technlogy and that is a fact..even the technology being used in Tanzania was borrowed from kenya by use of patenting. It is a fact that Kenya is the first country to sell bonds via mobile whether Tanzanians accept it or not or whether they claim to have done it..Here is even more info from international media BBC
Kenya starts selling bonds via mobile phones

• 23 March 2017
  
• From the sectionBusiness

Share
Image copyrightGETTY IMAGES
Image captionKenya's government is initially seeking to raise $1.5m (£1.2m) from the mobile bonds
Kenya has become the first country to exclusively sell government bonds to citizens via their mobile phones, as it seeks new ways of raising money.

The country is already a pioneer in the use of mobile money.

The government is looking to tap into that network by allowing mobile phone users to trade the government securities across their phones.

Kenyans can buy one of the bonds for as little as 3,000 Kenyan shillings ($30; £23), the country's central bank said.

Kenya's banking system is fuelled by mobile payments.

The main provider of mobile transactions, M-Pesa - which is Swahili for money - has about 20 million users, and there are more than 100 times as many M-Pesa kiosks as there are cash machines in Kenya.

Access
Finance Minister Henry Rotich said the government was initially making a limited offer of 150 million shillings to test the new bond before a bigger offer in June.

Kenya has borrowed heavily in the past four years to fund an ambitious construction programme, including roads and a new railway.

The bond, called M-Akiba, can be bought by phone users without any need for a bank account and pays an estimated interest of 10%.

Aly Khan Satchu, a financial analyst in Nairobi, told the BBC: "It's giving access to every Kenyan citizen to government securities.

"The idea of collecting nickel and dimes and aggregating them will be a source of potentially cheap money for the government.

"But I think ultimately it's a story about enfranchisement - allowing people with as little as $30 to invest in the capital markets. That's a good thing."

The country's central bank governor, Patrick Njoroge, said the bond would "dramatically improve the savings culture of our people".

Ronak Gadhia, an analyst at Exotix Partners, said he believed it was the first country to issue such bonds.

"And that is because no other country in the world has adopted mobile banking as much as Kenya has."

Analysis: Nancy Kacungira, BBC News reporter, Nairobi
Kenya's mobile-traded government bond has been in the works since 2015, and was finally launched today.

For as little as $30, Kenyan mobile users can now lend to the government and get paid a tax-free interest of 10% every six months.

Even though the minimum requirement is very low, government bonds have always been the preserve of the well-to-do, and a high level of awareness will be required for less investment-savvy individuals to take this up.

The success of this bond would shake up financial services by giving small investors alternatives to low interest earning accounts in banks, mobile money wallets, and savings co-operatives.

Apart from encouraging people to save, the platform will provide the Kenyan government with a new source of cheap money that it intends to use to finance large infrastructure projects.

Currently, only 2% of government bonds in Kenya are bought and sold by individual investors.

Click to expand...

Idiot, Tanzania has 3 years of doing that! Ati u r recognized globally. ..globally ur foot