CMA Approves Three New Firms as License Holders
Nairobi, 01 August, 2024…The Capital Markets Authority (CMA) has granted a license to Mi Vida Homes Limited to operate as a REIT Manager in a bid to deepen and develop the capital markets.
‘The newly licensed REIT Manager joins other licensees to facilitate the development of real
estate infrastructure and thus support the national government agenda for affordable housing’, CMA CEO Wyckliffe Shamiah noted. As a REIT Manager, the company will provide real estate management services in respect of a real estate investment trusts (REITs).
The Authority has also licensed Kingsland Court Trustee Services Limited as a corporate trustee and Mirova Sunfunder East Africa Limited as an investment adviser.
Simultaneously, Securities Africa Kenya Limited has been upgraded from a licensed stockbroker to investment bank.
The licenses will remain in force unless otherwise suspended or revoked following the necessary due process.
ENDS
BACKGROUND INFORMATION ON THE CAPITAL MARKETS AUTHORITY
The Capital Markets Authority (CMA) was set up in 1989 as a statutory agency under the Capital Markets Act Cap 485A. It is charged with the prime responsibility of both regulating and developing an orderly, fair, and efficient capital markets in Kenya with the view to promoting market integrity and investor confidence. CMA also regulates the commodity markets and online forex trading. The regulatory functions of the Authority as provided by the Act and the regulations include; Licensing and supervising all the capital market intermediaries; Ensuring compliance with the legal and regulatory framework by all market participants; Regulating public offers of securities, such as equities and bonds & the issuance of other capital market products such as collective investment schemes; Promoting market development through research on new products and services; Reviewing the legal framework to respond to market dynamics; Promoting investor education and public awareness; and Protecting investors’ interest. For more information, please contact: Antony Mwangi, Manager Corporate Affairs & International Relations on amwangi@cma.or.ke
