The Capital Markets Authority (CMA) has granted approvals to several firms across various license categories, bolstering the development of capital markets as well as promoting the growth of Kenya’s financial sector.
AKN Investments Limited been at the forefront of this development, receiving approval to upgrade its license from Investment Advisor to Authorized Securities Dealer. This enhancement will enable the firm to broaden its service offerings to institutional investors, potentially catalyzing increased institutional participation in the Kenyan capital markets.
Simultaneously, Moran Capital Management Limited has secured a license as an Investment Adviser. This allows the firm to focus on diverse areas including private equity, stock trading, and unit trusts, among others as well as providing investors with a wider range of investment options and expertise.
Entrust Advisory Limited has joined the ranks of newly licensed firms, obtaining an Investment Adviser License. As a reault, the company’s specialization in equities trading, fixed income, and business expansion advisory services positions it as a valuable player in guiding businesses and investors through the complexities of the financial markets.
Also, in a move that could significantly impact the real estate sector, Future Construkt Investment Managers Limited has been approved as a REIT Manager. This license will allow the company to leverage its expertise in real estate advisory and development, potentially opening up new avenues for investment in Kenya’s property market.
On the other hand, CPF Financial Services has seen its subsidiary CPF Capital and Advisory Limited receiving dual licenses as both a REIT Manager and Investment Adviser. This will strengthen CPF’s position in the real estate sector while also enabling the firm to guide clients in risk management and growth strategies through innovative financial solutions.
The CMA’s commitment to fostering financial inclusion is also quite evident in its licensing of Givva Wealthtech Limited as an Intermediary Service Platform Provider. The pension sector has also seen significant development with Octagon Pension Services Limited receiving approval to operate the Octagon Unit Trust Scheme.
This scheme, comprising five sub-funds, offers a diverse range of investment options including money market, balanced, fixed income, equity, and USD dollar money market funds, catering to various investor preferences and risk appetites.
In an interesting development for the forex market, Trademax Global Markets (KE) Pty Ltd has been granted a non-dealing online foreign exchange broker license. As part of the TMGM Group, which operates regulated businesses across Australia, New Zealand, and Mauritius, this approval could potentially enhance Kenya’s position in the global forex trading landscape.
Finally, the CMA also recognized the growing importance of technology in financial services by granting a Money Manager License to Store Poa Enterprise Limited. This license will allow the company to leverage its technological expertise to provide comprehensive online trading solutions for both individuals and businesses, further digitalizing Kenya’s financial services sector.
According to Mr. Wyckliffe Shamiah, the CMA Chief Executive Officer, this decision is part of the National Government’s agenda.
“These licenses are key to aligning the capital markets with the National Government agenda of enhancing the savings to GDP ratio by offering Kenyans a broader range of investment opportunities in the capital markets,” said Wyckliffe Shamiah.
