The Capital Markets Authority (CMA) has taken significant strides in enhancing the country’s financial ecosystem by licensing a new fund manager and approving a blockchain-based company for its regulatory sandbox.
Kenyan Alliance Asset Management Limited joins the growing list of fund managers, becoming the 42nd licensed entity. The firm will provide wealth and portfolio management services, targeting both individual and corporate clients, in compliance with the Capital Markets Regulations.
In a parallel development, Yeshara Tokens Limited has been admitted to the CMA’s regulatory sandbox for a one-year trial. The company will leverage its blockchain-powered Yeshara Platform to test the trading of tokenized securities, focusing on real estate assets. This innovation aims to increase liquidity and broaden investor access to financial markets.
Highlighting the potential of these initiatives, CMA Chief Executive Officer Wyckliffe Shamiah stated, “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 safe and controlled environment for financial firms to experiment with groundbreaking technologies while ensuring alignment with CMA’s mission to uphold market integrity, investor confidence, and robust market development. By integrating traditional asset management with advanced financial technologies, the CMA seeks to attract a diverse range of investors and support sustainable economic growth.
