Individual and corporate investors in Kenya can now trade in government securities using their mobile phones, Kenyan Central Bank said on Thursday.

This follows the Central Bank’s commencement of a mobile-based service that seeks to deepen investment in government Treasury bonds and bills.

Business24

“The bank is pleased to roll out Treasury Mobile Direct services, designed to facilitate investment in government securities using the mobile telephone,” reads the notice.

Through the mobile service, investors will be able to bid for Treasury bills and bonds, receive auction results, receive notifications for payments made and check on the securities on offer.

This, however, is not the first time Kenyans can trade in government securities on mobile. Kenya launched a mobile-based Treasury bond trading system in 2017 dubbed M-Akiba, but it targeted small individual investors with 3,000 shillings (about 30 U.S. dollars) set as a minimum investment.

With the new service, Kenyans will be able to buy government securities at the set minimum amount of 500 dollars from the comfort of their homes, bypassing banks, stockbrokers, or Central Bank itself where investors had to visit to trade. Enditem

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