NAIROBI, KENYA – Equity Bank has integrated government securities trading into its mobile banking application, enabling customers to purchase and pay for Treasury Bills and Bonds directly from their phones. The enhancement, which went live around Tuesday, November 25, 2025, marks a significant step in broadening access to government debt for retail investors, both within Kenya and across the diaspora.

This development is part of a wider digital transformation of Kenya's financial markets, spearheaded by the Central Bank of Kenya (CBK). The CBK has been actively encouraging retail participation in government securities, most notably through the 2023 launch of its DhowCSD platform, a digital infrastructure that allows investors to open securities accounts and trade online. The move by Equity Bank to facilitate these investments via its widely-used mobile app is expected to significantly accelerate this trend.

Deepening Financial Inclusion

The new feature on the Equity Mobile App simplifies what was once a cumbersome, paper-based process. Previously, investing in government securities required physical visits to the Central Bank or commercial banks. Now, Equity customers can complete the investment process in minutes, a convenience aimed at busy professionals and the extensive Kenyan diaspora seeking to invest back home. This aligns with the government's long-term goal of fostering a culture of savings and investment among the populace.

The digitization of access to these investment instruments has already had a measurable impact. Since the launch of the DhowCSD platform, retail investor holdings in government securities have more than doubled, soaring from approximately KSh 400 billion in mid-2023 to over KSh 800 billion by mid-2025, according to market analysis reports from September 2025. The number of retail investor accounts has also surged, with an additional 80,000 new investors signing up on the DhowCSD platform in the year following its launch, as confirmed by the CBK in June 2024.

How It Works and Broader Market Integration

To utilize the new service, Equity Bank customers navigate to the 'Transact' section of the mobile app, select 'Government Securities', and enter a payment key from the CBK to finalize the purchase. This seamless integration points to the growing interoperability between commercial banking platforms and the CBK's centralized infrastructure. The move complements a recent CBK initiative, announced on Friday, November 21, 2025, which integrated M-Pesa payments of up to KSh 250,000 directly into the DhowCSD platform, further lowering barriers for small-scale investors.

Government securities are debt instruments the government issues to fund its spending needs. Treasury Bills are short-term investments with maturities of 91, 182, or 364 days, while Treasury Bonds are medium- to long-term, with tenors ranging from one to 30 years. They are widely considered one of the safest investment options as they are backed by the full faith and credit of the government. The minimum investment for Treasury Bonds is typically KSh 50,000.

The Kenyan Context: A Digital-First Economy

This initiative builds on Kenya's established reputation as a global leader in mobile finance. With a mobile money penetration rate that is among the highest in the world, Kenyan consumers are accustomed to managing their finances via their phones. Extending this convenience to the investment sphere is a logical progression in the nation's financial development. The Capital Markets Authority (CMA) has also been supportive of digital access, licensing a growing number of online forex and other investment platforms to operate within a regulated environment.

Analysts note that while previous attempts at mobile-based bonds like M-Akiba saw limited success, the new generation of platforms like DhowCSD, now augmented by commercial bank apps, is better integrated and more user-friendly. This digital push is not only about convenience but also about nation-building, as increased retail investment in government debt provides the state with a stable source of domestic funding for development projects. For the average Kenyan, it transforms a savings tool into a wealth-creation opportunity that was previously the preserve of institutional investors and high-net-worth individuals.