Updated 20 October 2026
The M-Akiba bond calculator works out returns on the government’s mobile retail bond. M-Akiba interest is tax-free, so the tax field is set to 0%. We could not confirm a current M-Akiba coupon for 2026, so enter the rate from the issue you are buying.
Rates are what was last published, gross of tax. Money market funds are compounded monthly; bills, bonds, deposits and SACCO returns are worked out as simple interest. Your actual return will differ.
Compare it with T-bills and money market funds on the investment returns calculator.
What M-Akiba is
M-Akiba is a Treasury bond sold through your phone, aimed at small savers. It is issued only when the government opens a new tranche, so it is not always on sale.
Minimum investment and how to buy
The minimum is KES 3,000. You register by dialling *889# on Safaricom, Airtel or Telkom and pay through mobile money. Interest is paid to your mobile money line.
Tax
M-Akiba interest is exempt from withholding tax.
How to Use This Calculator
- Enter the amount you want to invest. The minimum is KES 3,000.
- Enter the coupon rate of the M-Akiba tranche you are buying, as shown in the official offer.
- Keep the tax rate at 0%, since M-Akiba interest is tax exempt.
- Read the interest you will earn each year and over the life of the bond.
Who M-Akiba Suits
M-Akiba was designed for small savers who cannot meet the higher minimums of ordinary Treasury bonds. It lets you lend to the government from your phone and receive interest straight to your mobile money line. It suits people saving for medium term goals who will not need the money before the bond matures, because it is less flexible than a money market fund.
M-Akiba Compared With Other Options
Money market funds such as Ziidi let you withdraw at any time but their rates move daily and interest is taxed. Treasury bills need a much larger minimum. M-Akiba offers a fixed, tax free coupon for small amounts, but it is only on sale when the government opens a tranche, and selling before maturity may not be easy.
Frequently Asked Questions
What is the minimum for M-Akiba?
KES 3,000.
Is M-Akiba tax-free?
Yes, M-Akiba interest is exempt from withholding tax.
How do I buy M-Akiba?
Dial *889# when a tranche is open and pay with mobile money.
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