Investors in government securities will be able to access their accounts and bid on treasury bonds and bills by March this year, according to the Central Bank of Kenya (CBK).

The new system, named DhowCSD, will allow for easier management of trading accounts in contrast to the current USSD system, which is limited.

"For those of you who invest in T-Bills and T-Bonds (Treasury Bills and Bonds), from next month, once we launch the new Central Securities Depository, you will be able to bid and buy all that from your phone," Central Bank of Kenya Governor Patrick Njoroge said.

"The diaspora, for example, if they need to register to buy bonds or bills, they have to come to the central bank. From next month, once we launch this, they will be able to do that wherever they are," he added.

According to CBK data, diaspora remittances rose by 8.34% to US$ 4.027 billion in 2022, overtaking individual major exports of coffee, tea, and horticulture. The CBK will seek to net some of the inflows into its debt instruments.

The new system has been installed by global fintech firm Montran Corporation, according to Central Bank documents. It is expected that the system will be available through USSD, SMS, and mobile apps on both Android and iOS.

The CBK states that DhowCSD will have the capabilities of making interbank payments, a module to buy and sell securities in the secondary market, and a detailed investor report generation.

Third-party brokers have, for some time, been asking their members to provide information, such as passport photos and ID copies, in preparation for the new account launch.