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M-Akiba treasury bonds via mobile
murchr
#401 Posted : Tuesday, September 10, 2019 4:20:41 PM
Rank: Elder


Joined: 2/26/2012
Posts: 14,800
Impunity wrote:
Muthawamunene wrote:
It's today.
Mine just came in.
Feeling good about it.

My first bond payment. Saving a screenshot for posterity.


Got "kaching" sound jana at 1030pm...small token enough to buy half mbuzi.
smile smile

So this thing works.

Next time I am going full in, head plus shoulder.



I only hope no body listened to you 6months ago. Fogothari

Now, can someone pls explain how the secondary bond market works. How can we put these children back to work? Buying mbuzi helps no one.

Then since we got into the 2017 bond issue does this mean that 2020 we get everything back?

Quote:
Please note the interest payment dates are as follows: 09/09/2019, 09/03/2020 and 07/09/2020

"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
.
Impunity
#402 Posted : Wednesday, September 11, 2019 10:18:20 PM
Rank: Elder


Joined: 3/2/2009
Posts: 26,143
Location: Masada
chiaroscuro wrote:
Impunity wrote:
Muthawamunene wrote:
It's today.
Mine just came in.
Feeling good about it.

My first bond payment. Saving a screenshot for posterity.


Got "kaching" sound jana at 1030pm...small token enough to buy half mbuzi.
smile smile

So this thing works.

Next time I am going full in, head plus shoulder.


Yangu bado. Navile niko na nyingi.....


It will kuom
Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.

maka
#403 Posted : Thursday, September 12, 2019 7:30:25 AM
Rank: Elder


Joined: 4/22/2010
Posts: 11,168
Location: Nairobi
murchr wrote:
Impunity wrote:
Muthawamunene wrote:
It's today.
Mine just came in.
Feeling good about it.

My first bond payment. Saving a screenshot for posterity.


Got "kaching" sound jana at 1030pm...small token enough to buy half mbuzi.
smile smile

So this thing works.

Next time I am going full in, head plus shoulder.



I only hope no body listened to you 6months ago. Fogothari

Now, can someone pls explain how the secondary bond market works. How can we put these children back to work? Buying mbuzi helps no one.

Then since we got into the 2017 bond issue does this mean that 2020 we get everything back?

Quote:
Please note the interest payment dates are as follows: 09/09/2019, 09/03/2020 and 07/09/2020



Yes 2020 you get everything back I don't think M akiba has a rollover option... TBH I haven't bought the M akiba bond so I wouldn't be in the know how to purchase it on the secondary market its a bit diff from the traditional one...
possunt quia posse videntur
MugundaMan
#404 Posted : Thursday, September 12, 2019 8:33:48 AM
Rank: Veteran


Joined: 1/8/2018
Posts: 1,885
Location: DC (Dustbowl County)
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!
"The fool says in his heart, "There is no God." - Psalm 14:1**Dustbowl County is the Future of Kenya. Join us investing here or perish!!****On Vacation until Jan 1st 2020**Current NSE holdings:ZERO. Next planned re-entry into the NSE: 2052
chiaroscuro
#405 Posted : Thursday, September 12, 2019 8:46:29 AM
Rank: Veteran


Joined: 2/2/2012
Posts: 1,104
Location: Nairobi
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!


True. This thing is badly managed. I bought in secondary and the transaction was delayed for three days. I ended up getting less bond than applied for.

Then there is the processing of interest: why is it taking so long? I still have not received the interest that was due on Monday. Kwani they are sending the amounts manually from a mlika mwizi?

BTW: veterans in this thing, do you get compensation for lat interest payment?

I have some significant amount and every day that passes I am losing a few thousands....
maka
#406 Posted : Thursday, September 12, 2019 8:51:59 AM
Rank: Elder


Joined: 4/22/2010
Posts: 11,168
Location: Nairobi
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!


Sad... You fail to understand whats so hard to implement DVP ... Reversal might happen because settlement wasnt successful... @Chiaro if you have a sizeable amount why not buy the normal bonds less stress
possunt quia posse videntur
chiaroscuro
#407 Posted : Thursday, September 12, 2019 8:58:25 AM
Rank: Veteran


Joined: 2/2/2012
Posts: 1,104
Location: Nairobi
maka 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!


Sad... You fail to understand whats so hard to implement DVP ... Reversal might happen because settlement wasnt successful... @Chiaro if you have a sizeable amount why not buy the normal bonds less stress



Liquidating M-Akiba is [supposed] to be seamlessly easier.
tandich
#408 Posted : Thursday, September 12, 2019 9:17:10 AM
Rank: Member


Joined: 5/6/2008
Posts: 157
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.

maka
#409 Posted : Thursday, September 12, 2019 9:56:29 AM
Rank: Elder


Joined: 4/22/2010
Posts: 11,168
Location: Nairobi
chiaroscuro wrote:
maka 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!


Sad... You fail to understand whats so hard to implement DVP ... Reversal might happen because settlement wasnt successful... @Chiaro if you have a sizeable amount why not buy the normal bonds less stress



Liquidating M-Akiba is [supposed] to be seamlessly easier.



Keyword 'was' ... there were specific investment banks to deal with the trading? TBH they have 0 incentive to make the thing work well... Comms for trading 100m is 24k.....smile
possunt quia posse videntur
chiaroscuro
#410 Posted : Thursday, September 12, 2019 10:42:01 AM
Rank: Veteran


Joined: 2/2/2012
Posts: 1,104
Location: Nairobi
maka wrote:
chiaroscuro wrote:
maka 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!


Sad... You fail to understand whats so hard to implement DVP ... Reversal might happen because settlement wasnt successful... @Chiaro if you have a sizeable amount why not buy the normal bonds less stress



Liquidating M-Akiba is [supposed] to be seamlessly easier.



Keyword 'was' ... there were specific investment banks to deal with the trading? TBH they have 0 incentive to make the thing work well... Comms for trading 100m is 24k.....smile



We're charged 0.335% in secondary trades. That's 335k on a 100M deal....
tandich
#411 Posted : Thursday, September 12, 2019 11:08:55 PM
Rank: Member


Joined: 5/6/2008
Posts: 157
MugundaMan
#412 Posted : Friday, September 13, 2019 2:39:49 AM
Rank: Veteran


Joined: 1/8/2018
Posts: 1,885
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? Laughing out loudly Laughing out loudly Laughing out loudly
I am DONE with M-Akiba. Not worth the effort if this is how it operates.
"The fool says in his heart, "There is no God." - Psalm 14:1**Dustbowl County is the Future of Kenya. Join us investing here or perish!!****On Vacation until Jan 1st 2020**Current NSE holdings:ZERO. Next planned re-entry into the NSE: 2052
Impunity
#413 Posted : Friday, September 13, 2019 9:35:49 PM
Rank: Elder


Joined: 3/2/2009
Posts: 26,143
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.

murchr
#414 Posted : Friday, September 13, 2019 11:02:12 PM
Rank: Elder


Joined: 2/26/2012
Posts: 14,800
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
.
sumuni
#415 Posted : Saturday, September 14, 2019 8:12:15 PM
Rank: Member


Joined: 6/24/2007
Posts: 105
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.
MugundaMan
#416 Posted : Sunday, September 15, 2019 7:20:53 PM
Rank: Veteran


Joined: 1/8/2018
Posts: 1,885
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.
"The fool says in his heart, "There is no God." - Psalm 14:1**Dustbowl County is the Future of Kenya. Join us investing here or perish!!****On Vacation until Jan 1st 2020**Current NSE holdings:ZERO. Next planned re-entry into the NSE: 2052
chiaroscuro
#417 Posted : Monday, September 16, 2019 11:14:24 AM
Rank: Veteran


Joined: 2/2/2012
Posts: 1,104
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!
maka
#418 Posted : Monday, September 16, 2019 11:43:03 AM
Rank: Elder


Joined: 4/22/2010
Posts: 11,168
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
murchr
#419 Posted : Monday, September 16, 2019 1:15:53 PM
Rank: Elder


Joined: 2/26/2012
Posts: 14,800
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
.
chiaroscuro
#420 Posted : Monday, September 16, 2019 1:48:27 PM
Rank: Veteran


Joined: 2/2/2012
Posts: 1,104
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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