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Kenyan Telecommunications’ company Safaricom set to launch a world first application that will enable investors to buy Treasury bonds using their mobile phones.

The application by the name ‘M-Akiba’ a swahili phrase which translates to Mobile saving. The product is an extension of the MPESA – Mobile money transfer phone application- that the telecommunications has established successfully in the market. The company hopes to release the new feature by 21st of October this year.

The feature to bid for bonds will be followed by an inclusion to purchasing T-Bonds and equities through the same process.

MPESA generates 20 percent of Safaricom’s revenue and the company is looking to build on that success