Bankers Acceptance

  • This is a product that caters for the needs of commercial borrowers and investors.
  • Trading in bankers acceptances is on a discounted basis like treasury bills.
  • Tenor of investment is limited to 90 days.
  • Trading in banker's acceptance may be on REPO basis or outright were the investment has the same maturity date as counter party borrowing paper.
  • Investment rates are related to the counter party borrowing rates and are also dependent the tenor and size of investment.
  • Minimum investment amount for bankers acceptances is K100 million.
  • Interest income is not subject to withholding tax but this income is subject to corporate tax at the end of the year and 1% medical levy.

 

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