Kenyans living in the diaspora and locally will now be able to trade in government securities digitally after President William Ruto today unveiled DhowCSD.
DhowCSD enables managing investments to be easier and the investors can keep track of their investments through the online portal created by Central Bank of Kenya.
The depository infrastructure, which is under the Central Bank of Kenya, will help expand digital access, deepen markets for border financial inclusion, and enable the scaling up of monetary policy operations.
CBK is optimistic that the platform will revolutionize its financial sector as well as facilitate the integration of Kenya with the international financial markets.
“The Dhow was deliberately adopted to signify the role that CSD will be playing in our financial and capital market,” read a statement by the CBK.
According to President Ruto, the new platform will allow Kenyans without bank accounts to purchase the state’s securities.
“This will expand the scope of participants and democratize this space even further and make it possible for a bigger majority of Kenyans and investors to participate in this endeavor,” he said.
The platform, which went live in July this year, has so far seen more than 7,000 new accounts created, according to the CBK.