By Roxane Okeke
The Capital Markets Authority (CMA) has approved several new licence applications for firms seeking to operate as market intermediaries in Kenya, a gesture it termed as “enhancing innovation and expanding access to investment services across diverse investor segments.”
Among the notable approvals is Rock Advisors Limited, which has upgraded from its previous status as an investment adviser to an investment bank.
The firm is expected to offer an expanded range of services including marketing research, advisory solutions, wealth management and proprietary trading.
The Authority also granted a stockbroker license to Green Margin Capital Limited, described as a technology-driven investment house focused on democratizing access to investment opportunities. The company aims to promote broader participation in capital markets through research excellence, technological innovation and investor education while serving retail, institutional, diaspora and emerging investor groups.
Zamara Actuaries, Administrators and Consultants Limited has also received greenlight to operate in the country. It’s not the first license to receive in the country, however.
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It operates under the watch of the Retirement Benefits Authority (RBA) and the Insurance Regulatory Authority (IRA) where it provides actuarial consulting, pension administration, insurance brokerage and financial planning services.
The new license means Zamara will expand into capital markets advisory, enhancing integrated financial solutions for both institutional and individual clients.
Arion Capital Limited also received approval to operate as an investment adviser. The company plans to provide tailored advisory services to corporates and high net-worth individuals, focusing on investment strategies that align financial returns with social and environmental objectives.
Additionally, Horizon Africa Capital Limited was granted an investment adviser license. The boutique mergers and acquisitions and capital-raising firm intends to develop technology-driven wealth management solutions and promote investor education while mobilizing savings into productive investments that support long-term wealth creation and capital preservation.
I&M Capital Limited also received an intermediary service platform provider (ISSP) license. The firm, is a wholly owned subsidiary of I&M management and advisory offerings which include unit trusts, government securities, offshore investments and financial planning services.
According to CMA, the entry and expansion of these intermediaries are expected to increase market depth, improve product diversity, enhance investor choice and strengthen confidence in Kenya’s capital markets.
