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 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.

The International Organization of Securities Commission (IOSCO) is the leading international policy forum for Securities regulators and is recognized as the global standard setter for securities regulation. The Organization’s membership regulates more than 95% of the world’s securities market in more than 115 jurisdictions and it continues to expand. IOSCO aims to cooperate in developing, implementing and promoting adherence to internationally recognized and consistent standards of regulation, oversight and enforcement in order to protect investors, maintain fair, efficient and transparent markets and seek to address systemic risks; Secondly is to enhance investor protection and promote investor confidence in the integrity of securities markets, through strengthened information exchange and cooperation in enforcement and lastly to exchange information at both global and regional levels on their respective experiences in order to assist the development of markets, strengthen market infrastructure and implement appropriate regulatory frameworks.

The World Investor week is a global outreach by securities regulators aimed at raising awareness about the importance of investor education and protection. The WIW 2019, which is the third edition of an initiative of the International Organization of Securities Commissions (IOSCO), will see countries in six different continents executing investor focused activities.  

In last year’s WIW 2018, IOSCO members and stakeholders from some 90 jurisdictions on six continents undertook a range of activities, such as offering investor-focused information and services, promoting contests to increase awareness of investor education initiatives, organizing workshops, and conferences and launching local/national campaigns in their respective jurisdictions.

During WIW 2019, Capital Markets Authority which is the Kenyan coordinator, will conduct engagements targeting the public, vernacular radio campaigns, a social media campaign and a scavenger hunt competition on the Resource Centre Portal. These activities are as outlined below:

  1. Resource Centre Portal Scavenger Hunt Competition

    Its back it’s bigger, its better!

    In line with creating incentives for the youth to increase their knowledge and attitude towards the capital markets, the Authority will be running the 3rd edition of the Scavenger hunt competition that is open to all members of the public. To participate, please visit the Resource Centre portal on: www.cmarcp.or.ke and attempt the 10 simple questions. To answer these questions you will be required to scavenge through the portal for the specific answers.

    There will be fabulous prizes to be won by participants through a raffle from correct responses to include:  

    • First Prize: M-Akiba Bonds;
    • Second Prize: M-Akiba Bonds;
    • Third Prize: to buy M-Akiba Bonds;
    • Consolation prizes for 20 participants: Kshs 3,000.00 each to buy M-Akiba Bonds.

    The Scavenger Hunt competition officially closes on Sunday 6th October 2019

  2. Physical Resource Centre Visit
    The Authority will also be giving an opportunity to members of the public who would wish to visit the physical Resource Centre located at Embankment Plaza, 3rd Floor, Longonot Road, off Kilimanjaro Avenue, Upperhill, Nairobi
    Those visiting the physical Resource Centre and are willing to participate in this competition will be required to familiarize themselves with the Resource Centre and shortly fill in a brief feedback questionnaire , after which a raffle will be conducted where 20 participants will be randomly picked and they stand a chance to win Kshs 3,000.00 each to buy M-Akiba Bonds.
  3. Social Media Initiatives
    The Authority will leverage social media to share key messages during the WIW period. The messages to be shared range from investment tips, Capital Markets product and services, milestones and developments in the Capital Markets industry. To be able to follow these conversations, ensure you follow and like our pages which are:
    • Facebook (Capital Markets Authority – Kenya)
    • Twitter (@CMAKenya)
    • LinkedIn (Capital Markets Authority – Kenya)
    • Instagram (Capital Markets Authority_Ke)
    Don’t miss out on the conversations and the chance to ask any questions on investing in the capital markets
  4. Facebook Live Conference
    The Authority will conduct a Facebook live conference on 3rd October 2019 from 2:30pm-3:30pm.The conference will provide an avenue for the Authority staff to educate the public on investment and avenues available for investment in the Capital Markets. This will also give a chance to the public to ask questions which will be responded to in real time and thus giving a chance for the public to probe further and get clarification on the various topics discussed.
  5. Vernacular Radio
    As a way of reaching the rural counties, the Authority will be live Vernacular radio sessions in vernacular targeting Ukambani and Embu regions. Therefore, the Authority staff will be present on Musyi FM 102.2 on 4th October 2019 from 7:00am-8:00am and Wimwaro FM 93.0 on 4th October 2019 from 7:00-8:00am. Tune in at this times and listen to them as you ask questions on investment in the Capital Markets industry.
  6. Crossword Puzzle
    In order to educate the public, the authority has developed a twin crossword puzzle on derivatives. This is one of the newest products in the industry hence this will go a long way in enhancing the user’s understanding of the subject. Check it out at https://www.cma.or.ke/index.php?option=com_content&view=article&id=393&Itemid=289  and have fun playing with words.
  7. Financial Calculator
    To enable potential investors to project their expected income. The Authority developed a financial calculator which clearly simulates the calculations at the exchange. This has therefore proven to be useful for investors. Check it out at; https://www.cma.or.ke/index.php?option=com_content&view=article&id=443&Itemid=293

An informed investor is a protected investor!!!!!

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East Africa’s only annual debt event

This is the only event in East Africa bringing together 250 government officials, corporates, banks, funds and advisors from more than 15 countries to discuss developments of both on- and off-shore capital markets. It is a unique opportunity to hear from over 35 expert speakers, network with the region’s most active issuers and gain direct insight into the way technology is being used in the region’s debt markets. Save time and money by spending valuable face time with all of your key clients, prospects and peers across the region under one roof. There is no other way to gain such wide coverage of the market in such close proximity.

All Capital Markets Authority, Kenya contacts receive a 20% discount. Register online using the special discount code CMA20 .

All Capital Markets Authority, Kenya contacts receive a 20% discount. Register online using the special discount code CMA20

Review last year's conference here



As part of its investor education initiatives, the Capital Markets Authority intends to conduct a National Capital Markets University Challenge beginning July 2018 that will comprise of 5 stages leveraging both technology and standard forums leading to the Grand Finale in November, 2018. This is an inter-university competition that will primarily focus on testing the participants’ knowledge and understanding of capital markets and financial issues.

  • To increase the capital markets knowledge base and awareness among the youth;
  • To encourage a culture of savings and investments through information dissemination on the capital markets;
  • To encourage discussions on capital markets with a view to increase the potential investor base;
  • To leverage the academia as a key stakeholder CMA by targeting university students as potential investors;
  • To leverage on technology in promoting investor education and public awareness among the youth.

The challenge will comprise of the following five stages which will be staggered over time through various delivery mechanisms for maximum impact and to allow for effective participation.

  1. i.Stage One (Online Examination) - Elimination Stage
  • Leverage technology by through an online examination process;
  • Candidates of participating universities only will be required to register;
  • Once a participant opens the exam within the window during the examination time allotted for the university, the exam will have to be completed within a specified period to be provided;
  • Exams will be multiple choice;
  • No participant can repeat or reenter to take an exam;
  • The scores and names will be selected subject to a basic selection algorithm;
  • Only the top 100 winners from each university as identified by the system will proceed to register for Stage Two.
  1. ii.Stage Two (Online Examination) - Scavenger Hunt Stage
  • The stage will also be online except that the response to the questions will require one to actually go through our website and Resource Centre Portal to locate specific information before answering the question;
  • Once a participant opens the exam within the window during the examination time allotted for the university, the exam will have to be completed within a specified period to be provided;
  • No participant can repeat or reenter to take an exam;
  • Exams will be multiple choice;
  • The scores and names will be selected subject to a basic selection algorithm;
  • The objective of this stage is to select the top 1o students with the highest scores from each university to proceed to the next level.
  1. iii.Stage Three (University Presentation Stage)
  • During this stage the Top ten student from each participating university will make public presentation to fellow students and judges from CMA and selected university faculty members/lecturers;
  • The topics will be chosen by the student and approved by CMA;
  • The objective of this stage is to have the top 2 students from each university to compete in the Semi Finals below.
  1. iv.Stage Four (Semi – final stage)
  • This will consist of the two short-listed students from each participating university who will be invited to the Authority Conference Room to present and respond to structured questions;
  • A panel of judges will comprise of CMA staff members and other stakeholders;
  • The output of this stage is for the top 12 students overall to proceed to the Grand Finale below.
  1. v.Grand Finale
  • This will consist of the top 12 students overall who will make a 20-minute presentation to invited public and university students from all participating universities, CMA staff and stakeholders at a Hotel in Nairobi CBD;
  • The panel of judges will comprise of CMA staff members and other stakeholders;
  • A cocktail to celebrate the winners will also be included as part of the program in the evening.
  • The Capital Markets University Challenge will be open to all continuing undergraduate students at the Universities within Kenya;
  • The participating students should not in any way be related to employees of Capital Markets Authority or any other officials who will be involved in the challenge.
  • Only students in good standing will be eligible to participate;
  • Students must be at least 18 years or older to participate;
  • The Authority will award printed certificates to the top 10 winners only. Other participants will be able to download certificates of participation during the online stages and via email for the 3rd stage.
  • The exam registration period will be open from Mid July 2018;
  • Stage One of the challenge will begin the second week of August 2018 ( universities will be informed of specific timeframe prior);
  • More registration details will be provided to each participating University.

Grand winner:

  • Visit the Securities Exchange Commissions and the Securities Exchange in a robust  African country for three days;
  • Winner’s university receives books and materials and capital markets literature worth Kshs.75,000.00.

First runners-up:

  • Visit to the Securities Exchange Commissions and the Securities Exchange in a robust African country for three days.

Second runners-up:

  • Visit to the Securities Exchange Commissions and the Securities Exchange in a robust market in an African country for three days.

Participants 4-12:

  • Kshs 5,000.00 each to buy a portfolio shares listed at the Nairobi Securities Exchange;
  • Certificate of participation for all participants.




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Contact Us

Embankment Plaza, 3rd Floor
Longonot Road, off Kilimanjaro Avenue, Upperhill
P.O Box 74800-00200, Nairobi Kenya
Tel: +254 20 2264400/ 2264900/ 2221910/ 2221869
Backup Wireless Lines: 0722 207767/ 020 2611464
Cell: +254 722 207767, Email: corporate@cma.or.ke
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