The government is committed to making it easier for Kenyans to contribute significantly to the development of their nation.
According to President William Ruto, consciously seizing opportunities will increase prosperity and enhance people’s quality of life.
At the Central of Kenya (CBK), Nairobi, during the introduction of the Central Securities Depository Dhow (DhowCSD), he made the comments on Monday.
The infrastructure enables electronic trading of government securities on national, regional, and global financial markets.
The system, which is based at CBK, enables safe updating of the status of transactions involving the securities as well as centralized custody of those securities.
President Ruto noted, “The development of DhowCSD cements the Government’s Plan to eliminate trade barriers.”
The platform, according to him, will enhance the domestic capital market and encourage savings and investment.
Additionally, it will promote the expansion and security of our financial market.
Cabinet Secretaries Njuguna Ndung’u and Moses Kuria, as well as CBK Governor Kamau Thugge, were with him.
The new system, according to President Ruto, would offer comfort, effectiveness, and speed without sacrificing security.
Investors will no longer need to physically show up to CBK to go through the laborious process of opening a CDS account, he said.
Everyone, regardless of status, now has access to the securities market thanks to the CSD investor portal and mobile app.
Automation of services through digital platforms, like the Hustler Fund, is consistent with the government’s objective to increase possibilities for Kenyans.
This, in our opinion, will stimulate our economy from the ground up.
The introduction of DhowCSD, according to Prof. Ndung’u, is a diversification milestone that would enhance the market.
The CBK Governor noted that the approach will improve liquidity distribution and operating efficiency in the domestic market.
