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Kenya has launched the Central Securities Depository Dhow (DhowCSD).

Domiciled at CBK, the infrastructure allows traders in government securities in local, regional and international financial markets to transact electronically.

The system also facilitates centralised custody of the securities and the secure updating of the status of transactions relating to them.

During the official unveiling President William Ruto reiterated the government’s commitment to facilitate Kenyans to participate meaningfully in the building of the country. He said the deliberate access to opportunities will create wealth and improve people’s lives.

“The development of DhowCSD cements the Government’s Plan to eliminate barriers to trade,” said President Ruto.

He further noted that the platform will deepen the domestic capital market, and promote savings and investments.

President Ruto added that the new system will deliver convenience, efficiency, speed without compromising security. He observed that investors will no longer have to physically present themselves at CBK to undergo the manual process of opening a CDS account.

The CSD investor portal and mobile app has opened up access to the securities market to everyone, regardless of status.

Treasury Cabinet Secretary Prof Njuguna Ndung’u termed the launch of DhowCSD as a diversity milestone that will enrich the market.

CBK Governor Kamau Thugge said that the system will boost operational efficiency in the domestic market and enhance liquidity distribution.

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