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CBK DhowCSD: How To Buy Treasury Bonds In Kenya Online


The CBK DhowCSD is a digital platform allowing users to access, buy, and sell treasury bills and bonds online, without intermediaries or physical documents.

The CBK DhowCSD aims to enhance financial inclusion, deepen the capital market, and diversify the investor base for government securities. It will also reduce the transaction costs and risks associated with paper-based processes.

The platform will be accessible through mobile phones, tablets via dedicated apps, and computers via a web portal, and will offer real-time information on available securities, prices, and yields.

Government Securities?

On the DhowCSD platform, investors can purchase Treasury bills (T-Bills) and Treasury bonds (T-Bonds) starting today August 1st, following the official launch.

Treasury bills T-Bills

These are short-term borrowing instruments issued by the Government through the Central Bank of Kenya to raise funds on a short-term basis. These paperless securities offer varying interest rates based on their maturity terms, which can be 91, 182, or 360 days. The minimum investment amount for T-Bills is Kshs. 100,000.

Treasury Bonds T-Bonds

On the other hand, Treasury bonds are secure medium- to long-term investments issued by the government for purchase by investors. These bonds provide regular interest payments every six months until maturity.

MUST READ: How do Treasury Bonds Work in Kenya

The Central Bank holds auctions for Treasury bonds on a monthly basis, offering a range of bonds throughout the year. Most T-bonds in Kenya come with fixed interest rates, meaning the rate determined at auction remains constant throughout the bond’s life.

The minimum investment amount for Treasury Bonds is Kshs. 50,000.

The CBK DhowCSD Treasury Bonds offered;-

a) Fixed Coupon Bonds:

These are the most common type of T-bonds, with a stable interest rate over the bond’s lifespan, resulting in consistent semi-annual interest payments.

b) Infrastructure Bonds:

These fixed coupon bonds are specifically aimed at funding designated infrastructure projects. They often attract significant market interest due to their tax-exempt returns.

c) Savings Development Bonds

These are long-dated fixed coupon bonds targeted at encouraging saving among investors.

How Access CBK DhowCSD

  1. Download the DhowCSD Mobile App or visit the DhowCSD online portal at
  2. If you are a new user, click on “Create Account” to begin the registration process.
  3. For existing account holders, simply select “Already have a CSD account” to activate your online account. All your existing details will be seamlessly transferred to the new DhowCSD system.
  4. Enter your email address, choose a username, and set a secure password of your choice.
  5. Accept the Legal terms to proceed.
  6. Click on “Start registration” to initiate the official registration process for your CSD account.
  7. Input your personal details exactly as they appear on your official identification documents (I.D./ Passport).
  8. For an individual account, select “Physical Person” under USER TYPE and “Household” under ECONOMIC SECTOR.
  9. Choose your preferred broker to facilitate your transactions.
  10. Enter your main registered phone number, and any other optional details.
  11. Upload a passport photo and a copy of your ID or passport.
  12. If applicable, include your KRA PIN certificate and any relevant tax exemption certificate. Note that individuals are generally not tax-exempt, but specific entities like NGOs may qualify.
  13. Validate your email address by entering the verification code sent to your registered email.
  14. Complete the registration process within seven days, as incomplete profiles will be automatically deleted by the system.
  15. Once your account is approved, you can start investing. The approval process typically takes 2-3 days, a significant improvement from the previous 1-month turnaround period.
  16. Click the BUY/SELL button to create a bid for your preferred Treasury Bills and Bonds.
  17. When placing a bid, choose either “competitive bidding” or “noncompetitive bidding”. A competitive bid is one that an investor specifies the prices or yields at which they wish to purchase securities. In competitive bidding, bids will be accepted in order, starting with the price higher than the minimum acceptable price or the yield lower than the maximum acceptable yield set by the Central Bank of Kenya. For noncompetitive bidding, you specify the quantities you wish to buy, while the price or yield is determined by the accepted competitive bids at the auction.

When you are ready to invest, you need to complete a Treasury bond application form. This includes information about the Treasury bond you want to purchase, like the issue number, the duration, and the face value amount you want to invest.

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Written by The County Info

Amos is an experienced SEO expert. He has an interest in finance, IT, business ideas, and investments. He has also contributed to many global web portals.

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