News and Analysis
November 21, 2024
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The Central Bank of Kenya (CBK) has launched a new portal that will allow Kenyans to trade in government bonds and treasury bills through a mobile app.
The platform, dubbed CBK DhowCSD, will be active from Tuesday, August 1, and will be available to both Android and iPhone users.
The CBK announced that among the changes introduced with the new platform is the discontinuation of manual payments for bonds and T-bills. All payments will be made through commercial banks.
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The CBK will also be discontinuing manual bids for government securities, all bids will be done through the DhowCSD portal.
“The CBK DhowCSD is a new Central Securities Depository (CSD) that offers a simple, efficient, and secure portal by the Central Bank of Kenya (CBK) to enable the public to invest in Government of Kenya securities.
"DhowCSD incorporates all the essential services required to invest in government securities such as CSD account opening and bidding for government securities in a convenient platform,” the CBK’s said in a statement.
To get the DhowCSD android app, click on this link: https://play.google.com/store/apps/details?id=csd.investor.portal.dhow
For iPhone users, the DhowCSD is also available on the Appstore, on this link: https://apps.apple.com/ke/app/dhowcsd/id6444705699
You can also access the DhowCSD on the CBK website, by following this link: https://dhowcsd.centralbank.go.ke/
If you already have a CSD account, your details will automatically be captured, once you click on the "Already have a CSD account" button.
New traders can register by following the “Create Account” button and filling in the required information.
Also Read: CBK Bonds Versus Real Estate: What Does the Math Say?
The launch of the new trading platform came at a time when the CBK announced it was issuing two CBK Fixed Coupon Treasury Bonds, where it is seeking to raise a total of Ksh40 billion, on behalf of the Kenyan government.
The bonds are available in two categories, a two-year bond and a five year bond - trading will start on August 22.
A government-issued bond is a form of investment that allows the government to borrow from the domestic market. The CBK raises money on behalf of the Kenyan government, which uses it to fund various projects such as building roads, hospitals, providing government services, etc.
The interest rate for the 5-year bond will be 16.844% while the rates for the two-year bond will be determined through market bidding.
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