CMA Licenses New Fund Manager and Admits One Firm to the Regulatory Sandbox
Nairobi, 02 January 2025 – The Capital Markets Authority (CMA) has unveiled two groundbreaking initiatives, reinforcing its commitment to advancing Kenya’s capital markets.
CMA has licensed Kenyan Alliance Asset Management Limited as a fund manager, increasing the total number of licensed fund managers in Kenya to forty two. With its entry into the market, Kenyan Alliance Asset Management will look to provide wealth and portfolio management services tailored to both individual and corporate clients, in full compliance with the Capital Markets Regulations.
Yeshara Tokens Limited has also been admitted to the regulatory sandbox for a one-year trial. Through its blockchain-powered Yeshara Platform, the company will test the trading of tokenized securities, focusing initially on real estate. This innovation is set to unlock liquidity and broaden access to financial markets.
CMA Chief Executive Officer Wyckliffe Shamiah highlighted the significance of these developments said; “The tokenization of real estate holds significant potential to expand access to international financial markets for both local and global investors.”
The regulatory sandbox provides a secure and controlled environment for testing innovative financial solutions, aligning with CMA’s mission to foster market integrity, investor confidence, and market development.
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. 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 and International Relations on amwangi@cma.or.ke
