The Central Bank of Kenya (CBK) has simplified the process of investing in Government securities with the unveiling of the new CBK DhowCSD portal. In the past, acquiring Government Bonds and Treasury bills has been a daunting task for many, deterring potential investors. However, with this innovative platform, CBK aims to revolutionize the investment landscape and make it more accessible to the public.
A Simple, Efficient, and Secure Portal
DhowCSD, the new Central Securities Depository (CSD) by the Central Bank of Kenya, offers a seamless and secure portal for Kenyans to invest in Government of Kenya securities. The user-friendly platform will be available on Android, iOS, and through an online portal. As of today, August 1, the portal is live and open for access.
Discontinuation of Manual Payments
With the introduction of the DhowCSD portal, CBK brings some crucial changes that investors should be aware of. Notably, manual payments for both bonds and T-Bills will be discontinued. All payments will now be processed through commercial banks, ensuring a more streamlined and efficient process.
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Another significant change is that all bids for government securities will be exclusively done through the DhowCSD portal. Manual bids will no longer be accepted, enhancing transparency and efficiency in the investment process.
How to Get Started with CBK DhowCSD
To take advantage of the CBK DhowCSD platform, interested individuals can easily download the app on their Android or iOS devices. For Android users, the app is available on the Google Play Store, while iOS users can find it on the App Store. Alternatively, investors can access the portal through their web browsers.
New Investors can easily register for accounts by clicking on the “Create Account” button and filling in the required information. For those who already have CSD accounts, tapping on the “Already have a CSD account” button will populate their account details, allowing them to proceed seamlessly.
The introduction of the new trading platform coincided with the CBK’s announcement regarding the issuance of two CBK Fixed Coupon Treasury Bonds, with the objective of raising a total of Ksh40 billion on behalf of the Kenyan government.
These bonds are offered in two categories: a two-year bond and a five-year bond, and their trading activities are scheduled to commence on August 22.
A government-issued bond represents an investment opportunity that enables the government to borrow funds from the domestic market. Acting on behalf of the Kenyan government, the CBK mobilizes funds, which are then utilized for funding various essential projects like infrastructure development, healthcare facilities, and public services.
Investing in Government securities has never been this accessible and convenient. With CBK DhowCSD, the Central Bank of Kenya aims to foster a culture of investment and financial security among the public. Don’t miss out on this groundbreaking opportunity; start your investment journey with CBK DhowCSD today.