The market watchdog, Capital Markets Authority (CMA), has granted four new licenses to expand the scope of intermediaries in Kenya’s capital markets.
- •Fund Managers’ licenses were awarded to Kenya Climate Ventures Limited and EDC Asset Management (Kenya) Limited, bringing the total number of licensed fund managers to 47.
- •The fund management segment has seen steady growth, with assets under management in Collective Investment Schemes (CIS) reaching KSh 596Bn by 30 June 2025.
- •Kenya Climate Ventures, established in 2016, is the first locally licensed climate-focused fund manager.
It invests in early and growth-stage climate-smart and gender-inclusive enterprises, particularly in agribusiness, water, renewable energy, forestry, and waste management. It has made 23 investments valued at about US$ 4 million and now seeks to scale its role through specialised climate impact funds.
EDC Asset Management (Kenya) Limited, a new entrant, has been licensed to provide fund management, investment advisory, and segregated portfolio services. The firm is positioning itself to tap into the rising demand for professional asset and wealth management services in Kenya.
Jalia in as Advisers, Co-op Bank as Corporate Trustee
CMA also licensed Jalia Advisers & Intermediaries Limited as an Investment Adviser. The firm intends to offer research-driven, customized solutions aimed at supporting financial inclusion and wealth creation.
In addition, the Co-operative Bank of Kenya received a Corporate Trustee License, building on its experience as a licensed custodian, REIT Trustee, and listed entity. The bank currently provides trustee services to several REITs and unit trust schemes and is expected to expand its oversight role across collective investment schemes.