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M-Akiba treasury bonds via mobile

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tandich		#411 Posted : Thursday, September 12, 2019 11:08:55 PM
Rank: Member Joined: 5/6/2008 Posts: 199		M-Akiba misses Sh500m target, gains new accounts
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MugundaMan		#412 Posted : Friday, September 13, 2019 2:39:49 AM
Rank: Elder Joined: 1/8/2018 Posts: 2,212 Location: DC (Dustbowl County)		tandich wrote: MugundaMan wrote: M-Akiba secondary seems to have a lot of glitches. Purchased some bonds juzi and my transaction was reversed several days later with no explanation. Also, it sometimes gives errors saying trading of each of the two prior bonds issued is no longer open, even during daytime hours. Then they give the pesalink option for you to buy up to 999,999 worth of bonds, but then most bank sites do not let you input 889 as the phone number for a pesalink payment. I am surprised there are so many glitches yet this thing has been up for 3 years! Emails from help-desk forwarded to me by a friend who has been communicating with them. March 2019 Quote: Thank you for your email. Please note that when purchasing M-Akiba bond in the secondary market clients are to use mobile money. Please note that the funds will be reversed to your bank account. Regards, May 2019 Quote: Thank you for your email. Please note that you can purchase M-Akiba bond in the primary market using pesalink. Kindly find attached the M-Akiba prospectus and the frequently asked questions. Please find below the official list of Pesalink supported banks. Any bank not on this list will fail the transaction to 889. 1. NIC 2. I&M 3. FAMILY BANK 4. PARAMOUNT BANK 5. MIDDLE EAST BANK 6. NATIONAL BANK OF KENYA LTD 7. CO-OPERATIVE BANK 8. DIAMOND TRUST BANK 9. JAMII BORA BANK 10. KWFT Text from PESALINK in May Quote: M-Akiba is back! Select PesaLink on your bank app or USSD, pay to phone using 0733 889 889 as phone number. Enter your desired amount minimum KES3,000. Enter your ID number under 'reason for payment' then complete I eventually bought by sending Pesalink to 0733889889. Try this if/when it reopens. Worked for me. Very poor from them. Should have taken more time ironing out the process before release. Why bar Pesalink from secondary trading? Why make it unnecessarily difficult? Additionally, despite buying on Pesalink from my bank account, I got my coupon via M-Pesa. I would have expected it to go to the bank account. Asante sana Tandich, you are a lifesaver! This M-Akiba thing is a big joke. Did they expect us to figure all this out by osmosis? I am DONE with M-Akiba. Not worth the effort if this is how it operates.
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Impunity		#413 Posted : Friday, September 13, 2019 9:35:49 PM
Rank: Elder Joined: 3/2/2009 Posts: 26,331 Location: Masada		Why are the mbig mboys banks left out? EQUITY,KCB,STANBIC,STANCHAT etc? Portfolio: Sold You know you've made it when you get a parking space for your yatcht.
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murchr		#414 Posted : Friday, September 13, 2019 11:02:12 PM
Rank: Elder Joined: 2/26/2012 Posts: 15,980		Impunity wrote: Why are the mbig mboys banks left out? EQUITY,KCB,STANBIC,STANCHAT etc? They are ineligible "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore .
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sumuni		#415 Posted : Saturday, September 14, 2019 8:12:15 PM
Rank: Member Joined: 6/24/2007 Posts: 111 Location: Afrique		I applied for the first M-Akiba issue and I have been loading up every time they re-open. I know it is one year out but how are they going to repay the bond on maturity via M-pesa? will they send 70K, wait for you to unload, then send another 70k until all is repaid? Or will they request for bank accounts to wire the funds?? It is a curious fact that of all the illusions that beset mankind, none is quite as curious as that tendency to suppose that we are mentally and morally superior to those who differ from us in opinion.
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MugundaMan		#416 Posted : Sunday, September 15, 2019 7:20:53 PM
Rank: Elder Joined: 1/8/2018 Posts: 2,212 Location: DC (Dustbowl County)		sumuni wrote: I applied for the first M-Akiba issue and I have been loading up every time they re-open. I know it is one year out but how are they going to repay the bond on maturity via M-pesa? will they send 70K, wait for you to unload, then send another 70k until all is repaid? Or will they request for bank accounts to wire the funds?? Excellent questions. These are the reasons to run away from these things unless you are investing 70k or below.
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chiaroscuro		#417 Posted : Monday, September 16, 2019 11:14:24 AM
Rank: Veteran Joined: 2/2/2012 Posts: 1,134 Location: Nairobi		Seven days later; NO INTEREST YET! No wonder this thing has been such a flop. They can't even pay interest on time. Bure Kabisa!
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maka		#418 Posted : Monday, September 16, 2019 11:43:03 AM
Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi		chiaroscuro wrote: Seven days later; NO INTEREST YET! No wonder this thing has been such a flop. They can't even pay interest on time. Bure Kabisa! Really? Have you tried checking what's the issue... To the best of my knowledge CBK never jokes around with interest payments... possunt quia posse videntur
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murchr		#419 Posted : Monday, September 16, 2019 1:15:53 PM
Rank: Elder Joined: 2/26/2012 Posts: 15,980		chiaroscuro wrote: Seven days later; NO INTEREST YET! No wonder this thing has been such a flop. They can't even pay interest on time. Bure Kabisa! When did you buy? Have you checked to see how much interest you have accrued? "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore .
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chiaroscuro		#420 Posted : Monday, September 16, 2019 1:48:27 PM
Rank: Veteran Joined: 2/2/2012 Posts: 1,134 Location: Nairobi		murchr wrote: chiaroscuro wrote: Seven days later; NO INTEREST YET! No wonder this thing has been such a flop. They can't even pay interest on time. Bure Kabisa! When did you buy? Have you checked to see how much interest you have accrued? I bough MK02 secondary in late AUG. Called them today and they confirm "you are supposed to get sh----" but they are not able to tell why it hasn't been paid. A very confused lot! Bure kabisa.
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