How to Invest in Tax-Free CBK’s Infrastructure Bond Through Your Phone  

The Central Bank of Kenya (CBK) has invited Kenyans to bid for the latest reopened 15-year and 19-year infrastructure bonds, where the government seeks to raise Ksh90 billion.

According to CBK, Kenyans seeking to invest can undertake the process using their phones.

CBK detailed that the process involves 3 steps and will require an investor to download the DhowCSD app on the Google Play Store. The 3 steps are detailed below

Step 1: Open a DhowCSD Account

To start, go to either the Google Play Store or the Apple App Store and download the CBK's DhowCSD account.

After downloading the app, you will then be required to register using an active email address.

Upon completing the registration process, the account will be active for use within 48 hours.

Read More: Is Investing in Government Bonds a Good Idea? (Pros & Cons)

‍Step 2:Invest in the Infrastructure Bond 

The initial phase of this step involves a thorough review of the Prospectus for the two Infrastructure Bonds on offer. 

Choose a Bond to invest in and make your bid through DhowCSD.

All bids should be submitted before Wednesday, August 13, 2025, at 10:00 am. Payments for the bonds should also be made by Monday, August 18, 2025, at  2 pm.

Step 3: Payment of Interests 

As detailed by the CBK, the interest earned from the infrastructure bond investments is tax-free. The advertised interest rate for the 15-year bond is 12.5% and 12.9%  for the 19-year bond.

Successful investors will begin receiving interest payments every six months. The principal investment is paid out in two portions, depending on the investment option. For instance, for the 15-year bond, 40% of the principal will be paid on January 17, 2028, with the remaining principal to be paid on January 10, 2033.

‍Details of the Latest Bond

The bond is set to be used to fund various infrastructure projects in the country.

For non-competitive bids, the minimum bid required is Ksh50,000 while the maximum is Ksh50,000,000. For competitive bids, the minimum amount is Ksh2 million per CSD account.

"All successful bidders should obtain the payment key and amount payable from the CBK DhowCSD Investor Portal/App under the transactions tab on Friday, August 15, 2025, for IFB1/2018/015 and IFB1/2022/019.

"Defaulters may be suspended from subsequent investment in Government Securities," read the report in part.

For more details on the infrastructure bond, click here