The Capital Markets Authority (CMA) has licensed four new players hoping to deepen Kenya’s capital markets, boost investor protection and promote access to professional financial services.
Among the four are two new investment advisors—Rock Advisors Limited and Legatum Capital Advisory Limited.
Rock will focus on delivering responsible, tailored financial advice to institutional clients, with an emphasis on strategic investment planning and portfolio management.
“In addition, the Authority has licensed Legatum Capital Advisory Limited as an investment advisor. The firm intends to offer a diverse range of investment advisory services to clients, promoting capital preservation, wealth creation and sustainable investment practices,” read a statement from CMA.
In a bid to improve liquidity and efficiency in the fixed income market, CMA has also licensed Fintrust Securities Limited as an Authorised Securities Dealer (ASD).
The firm will be authorised to on financial instruments that provide investors with regular, fixed interest payments and return the principal amount at maturity, alongside providing bid and offer quotations, and deliver advisory services to clients.
“As an ASD, Fintrust will be permitted to buy and sell fixed-income securities on behalf of clients, quote bid and offer prices for various instruments, and provide advisory services—contributing to greater price discovery and trading efficiency,” CMA said.
Additionally, Stanbic Bank Kenya Limited has been approved as a corporate trustee under the Capital Markets (Collective Investment Schemes) Regulations, 2023.
The bank will oversee the governance and compliance of collective investment schemes, playing a key role in safeguarding investor interests.
Stanbic joins, Sanlam Investments East Africa which earlier in the week received approval to establish a new sub-fund under its existing structure, the Sanlam Special GBP Fixed Income Fund.
This unit portfolio will be denominated in Great Britain Pounds (GBP), providing investors with exposure to fixed income securities in foreign currency.
“These approvals reflect growing investor confidence and increased appetite for diversified investment options, including foreign currency-denominated and offshore funds,” CMA Chief Executive Officer, Wyckliffe Shamiah said on Monday.
