Investors in government securities in Kenya will soon have an easier time managing their trading accounts, thanks to the new DhowCSD system. The Central Bank of Kenya (CBK) recently announced that it will launch the new system by March this year, which will allow investors to access their accounts and bid on treasury bonds and bills from their mobile devices.

In this article, we will discuss the new system, its capabilities, and the benefits it will offer to investors.

What is DhowCSD?

DhowCSD is a new system that has been installed by Montran Corporation, a global fintech firm. The system will allow investors in government securities to manage their trading accounts and bid on treasury bonds and bills using their mobile devices.

The new system will replace the current USSD system, which has limited capabilities. DhowCSD is expected to be available through USSD, SMS, and mobile apps on both Android and iOS.

Have you followed us on Tiktok?

Benefits of DhowCSD

The new system will offer several benefits to investors, including:

  1. Easier account management: DhowCSD will provide investors with an easier way to manage their trading accounts, which will save time and increase efficiency.
  2. Accessibility: Investors will be able to access their accounts and bid on treasury bonds and bills from anywhere in the world, using their mobile devices.
  3. Interbank payments: DhowCSD will have the capability of making interbank payments, which will make it easier for investors to transfer funds.
  4. Secondary market trading: The system will also have a module to buy and sell securities in the secondary market, which will provide investors with more trading opportunities.
  5. Detailed investor reports: DhowCSD will generate detailed reports for investors, which will provide them with valuable insights into their investments.
AlSO READ:  Origin Digital to Revolutionize Agricultural Credit in Sub-Saharan Africa

Diaspora investors

The CBK has also emphasized that the new system will benefit diaspora investors. According to CBK data, diaspora remittances rose by 8.34% to US$ 4.027 billion in 2022, overtaking individual major exports of coffee, tea, and horticulture. The CBK will seek to net some of the inflows into its debt instruments.

Governor Patrick Njoroge said that the new system will make it easier for diaspora investors to register to buy bonds or bills, without having to come to the central bank. This will enable them to invest in government securities from anywhere in the world.

Follow Techspace Africa on Facebook and Twitter. For the latest news, tech news, breaking news headlines, reviews and live updates check out tech-space.africa

Nigel Jr.
As a tech enthusiast and expert, Nigel Jr. is dedicated to providing in-depth and insightful content on all things technology. With a background in online journalism, product reviewing, and tech creation, Nigel has become a trusted source for all things tech.

You may also like