Kenya is set to introduce an electronic over-the-counter trading platform for Treasury bills and bonds, as announced by the Central Bank of Kenya (CBK).
Outgoing CBK Governor Patrick Njoroge stated that the new Central Securities Depository (CSD) system will be available in less than a month, instead of the original June 2022 date. The World Bank Group funded the platform, which started in September 2020 and was expected to go live a year ago. With this modernisation, Kenyans abroad will be able to purchase and sell government securities online.
Dr Njoroge declared that the platform could be used to draw in more than Sh400 billion in remittances from Kenyans abroad into the government debt. Presently, the bulk of these funds are used to cover medical costs, rent, educational expenses, and utility bills for households. The government borrows from the domestic market by issuing short-term Treasury bills, which must be paid back in a year or less, and longer-dated bonds that can be traded on the Nairobi Security Exchange’s fixed income board.
“The CSD provides a new and easy way to invest in government securities and will, therefore, be beneficial to the diaspora. They don’t need to come back to Kenya to make investments in the T-bills, T-bonds, among others,” the CBK chief said.
T-bills, which are not listed on the stock market, can only be sold through a rediscounting process, which involves selling them back to the Central Bank. The one-year T-bill is, however, tradeable in an OTC market at the CBK.
Since 2015, the amount of money sent home by Kenyans living abroad has remained the largest source of foreign cashflows in Kenya, surpassing inflows from tourists, foreign direct investments, and cash generated from the sale of horticulture and tea.
Would like to know more…
Would like to know more about this platform
Ruto is trying an…
Ruto is trying an achievement Uhuru failed because of greed and thuggish advice by Ngina,the 90 year old mwizi/Mtoto nyonya.UhuRuto wanted to force Kenyans to fund the katiba themselves so that they could demand it be overhauled on realizing they cannot afford.But kung’ara/ buzaa guy gave in to Ngina’s demand that they take loans and loot it.The second shs 200b EUROBOND was directly wired to her offshore A/c and Uhuru is the sole beneficiary.Kenyans must demand downsizing the bloated govt starting with all councilors who are on strike.
Do that at your own peril…
Do that at your own peril. Serikali ya wezi!
Yah, where are the specifics…
Yah, where are the specifics? Instead of beating about the bush! Your aim is just to collect money, my aim is to invest wisely and safely with good returns!!!!
Will they tell us to give…
Will they tell us to give them our SSN? I cannot trust Kenyans with my SSN. They will sell it one the streets.
This sounds interesting. Can…
This sounds interesting. Can you send me more information
Harakisha bana, doo ziko kwa…
Harakisha bana, doo ziko kwa wingi…
I hope sio pan’gan’ga za…
I hope sio pan’gan’ga za wadosi wa Kenya..tuko tayari na dola freshy kununua bonds
I would never buy Bond from…
I would never buy Bond from a third world country, and especially from Kenya where all the thieves live.
Buying the Kenya bond is a…
Buying the Kenya bond is a good idea but the issuer of the said bond lacks credibility. Too much corruption in Kenya.
DO NOT try with this govt…
DO NOT try with this govt. Ruto is looking for money every where. All the money you send to Kenya, they have never thought to protect our interests? Service abroad is bloody shoddy! Mtaibwa mshangae! Invest where you live or go buy a plot
Ruto and his trained conmen…
Ruto and his trained conmen and thieves makes this good investment untenable! Do no put your hard earned money in the mouth of wolves! They have no shame to steal from anyone in this world, children included!
I won’t buy anything…
I won’t buy anything originating from the current Kenya regime under one money greedy guy, Ruto! They are expert thieves!