NAIROBI, Sept. 11 (Xinhua) -- Kenyan President William Ruto on Monday launched a digital platform to enable investments in government securities.
Ruto said the Central Securities Depository (CSD) infrastructure of the Central Bank of Kenya (CBK), dubbed DhowCSD, allows the trading of government bonds via online and mobile phone platforms.
Ruto observed that the digital platform eliminates the need for investors to physically visit the CBK in order to trade in government bonds, and this will facilitate the diaspora to purchase government securities. The web platform will also improve transparency in government bond trading because it permits retail investors to view government bond auction results as well as payment details.
The platform, which is domiciled at the CBK, facilitates centralized custody of the securities and the secure updating of the status of transactions relating to them.
The president said the platform will deepen the domestic capital market, and promote savings and investments.
"It will also foster the growth and stability of our financial market," Ruto said, noting that the new system will deliver convenience, efficiency, and speed without compromising security. ■
