African Alliance, a South African-based Group, has notified the Capital Markets Authority(CMA) of its intention to cease the operation of its investment banking business in Kenya.
However, the Group said that it would continue operating in Kenya as a Fund Manager.
The Capital Markets Authority(CMA) has accepted the request. It has notified the public that all those with any unresolved issues to notify CMA within 45 days from the notice, dated May 5th 2022.
After the 45 days lapse, CMA said the licence should stand revoked.
The Kenyan subsidiary is part of the Group, whose head offices are in Johannesburg, South Africa. The Group has subsidiaries in more than 20 countries in Africa.
The Group investment banking group provides investment banking across Africa to national governments, private firms, parastatal, pension funds and medium-sized enterprises.
The Group deals with Asset management, Corporate finance, Stockbroking, Private Equity and Third-party administration.
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