Citizens of Kenya will be able to buy government securities from a digital platform known as DhowCSD, instead of its current USSD system from March,
The DhowCSD is a mobile app and will be available on Android and Apple stores. It is supposed to fill the gaps in the current USSD system of buying and selling securities, treasury bills and bonds.
TrendsKe says the digital platform will also enable the generation of detailed investor reports. The DhowCSD is capable of making interbank payments, a module to buy and sell securities in the secondary market.
The DhowCSD will enable anyone from anywhere to bid and buy from their phone.
The Central Bank of Kenya is excited about this development as it promises to boost its remittance revenue which is already growing faster and taller than its money from tea and horticulture.