President Ruto To CBK: Facilitate Diaspora Trade Through DhowCSD

Wilson September 11, 2023

President Ruto To CBK: Facilitate Diaspora Trade Through DhowCSD

H.E the President William Ruto officially launched the DhowCSD, 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 seamlessly. 

In the event that was also attended by the Diaspora Affairs PS Roseline Njogu, the president commended the Central Bank for the innovative approach but challenged its administrators to ensure that the members of the diaspora community aren’t left behind.

“DhowCSD has brought about a big component of transparency in our financial market,” said the President.

According to the president, DhowCSD should now be made possible for Kenyans in the Diaspora who do not have a Kenyan bank account to be able to purchase Gov’t securities using other convenient means of payment. He added that this will avail the opportunity for majority of Kenyans in the Diaspora to benefit from the platform.

Head of State said that it would be more desirable to reduce the denominations below 50k to accommodate low income earners in Kenya and provide favorable interest rate on gains for the investment to be as inclusive and practically possible to leverage on the contribution of every Kenyan locally and abroad. The President encouraged all other sectors to continue embracing data, technology and science in order to manage inflation and grow our economy.

Step by step guide on how to open a CDS account with the Central Bank. 

Watch the event here