President William Ruto inaugurated the DhowCSD digital platform on Monday. Developed under the Central Securities Depository (CSD) infrastructure of the Central Bank of Kenya (CBK), this cutting-edge platform enables the online and mobile trading of government bonds. The launch marks a pivotal moment in the nation’s financial evolution, offering a host of advantages to both local and international investors.
One of the standout features of the DhowCSD platform is its ability to eliminate the necessity for physical visits to the CBK for government bond transactions. This development is poised to open doors for the Kenyan diaspora, enabling them to seamlessly invest in government securities without geographical constraints. Moreover, the platform promises to usher in a new era of transparency in government bond trading. Retail investors can now access auction results and payment details with ease, fostering trust and confidence in the market.
Situated within the CBK, DhowCSD also offers centralised custody of securities, ensuring secure and efficient management of transaction statuses. President Ruto emphasized that this innovative platform will not only deepen the domestic capital market but also encourage savings and investments. He further underscored its potential to bolster the growth and stability of Kenya’s financial landscape, all while guaranteeing convenience, efficiency, and speed, with an unwavering commitment to security.
The launch of DhowCSD represents a transformative moment for Kenya’s financial sector, aligning with the nation’s commitment to embracing digital advancements in the pursuit of economic growth and financial inclusivity. As this platform opens up new opportunities for investors and enhances the transparency of government bond trading, it reinforces Kenya’s position as a forward-thinking leader in African financial markets.