The Capital Markets Authority (CMA) has given the greenlight to five firms to operate in the industry in different capacities in the latest move to deepen and develop the capital markets.
- •Tim Walsh Advisory Services has been licensed as an Investment Adviser while IC Markets Kenya Limited has been licensed to operate as a non-dealing online foreign exchange broker.
- •GTXN Investments Limited has been approved as a fund manager.
- •Kirinyaga Slopes Coffee Brokerage, which had previously been conditionally licensed to operate as a coffee broker at the Nairobi Coffee Exchange, has now been granted full license status.
Coffee Estates Bourgeoisie Brokers Limited, has been granted a conditional license valid for six months to operate as a coffee broker.
“The increasing demand for licenses in the intermediary sector in recent years is a positive emergence as it enhances competition, innovation and the reach of capital markets products and services to retail investors,” CMA CEO Wyckliffe Shamiah said.
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