The Capital Markets Authority (CMA) has licensed more players in the investment advisory and management field as a rise in retail investors attracts more firms seeking fees.
The regulator has licensed the new firms and sub-funds across asset management, investment advisory, real estate investment trust (REIT) management, coffee brokerage and digital intermediation.
"The entry and expansion of these intermediaries will contribute to increased market depth, improved product diversity, enhanced investor choice and strengthened confidence in Kenya's capital markets,” said CMA’s chief executive officer, Wyckliffe Shamiah.
Among the newly licensed market intermediaries include Finaltus Limited, which received an investment adviser licence to provide corporate finance, transaction advisory and investment advisory services, with a focus on ESG investments and cross-border transactions.
Istithmaar Lulu Maknoon Limited (ILM) was licensed as a REIT manager, introducing Shariah-compliant real estate investment products into the market.
The CMA also licensed Saffron Coffee Marketers Limited as a coffee broker, supporting ongoing sector reforms by providing brokerage services to farmers.
Frictionless Enterprises Limited, trading as Power, has secured an Intermediary Service Platform Provider licence.
The approval enables the company to formalise its digital savings platform, allowing users to invest seamlessly in money market funds managed by CMA-regulated fund managers through payroll-integrated technology.
Power had previously participated in the CMA Regulatory Sandbox before graduating to full licensing.
The licensing drive extended to the asset management industry, where CMA approved three new fund managers to expand professional investment management capacity.
ADAR Asset Management Limited plans to launch closed-end collective investment schemes providing Kenyan investors access to alternative global investment opportunities, beginning with real estate-linked credit products.
Entrust Advisory Limited, previously licensed as an investment adviser, was upgraded to fund manager status, allowing it to offer a different investment management solution.
Everstrong Asset Management Limited also secured a fund manager licence and intends to focus on infrastructure, private equity, energy, real estate and other alternative investments across Kenya and the wider East African region.
The CMA also approved the registration of two new umbrella unit trust schemes alongside several new investment sub-funds.
Cinemark Investment Bank Limited received approval to establish the Cinemark Unit Trust Fund comprising seven sub-funds covering Kenya shilling and US dollar money market, fixed income and multi-asset investment strategies.
Karsis Asset Managers Limited was also authorised to establish the Karsis Unit Trust Scheme with twelve sub-funds spanning money market, fixed income, multi-asset and private debt strategies offered in Kenya shillings, US dollars, euros and sterling pounds.
The latest approvals form part of CMA's broader strategy to promote innovation, attract new investment products and expand access to regulated financial services across retail, institutional, corporate, diaspora and high-net-worth investor segments.
