The Capital Markets Authority (CMA) has licensed Jipay Payment Solutions and Sycamore Capital as Intermediary Service Platform Providers (ISPPs).
- •Jipay Payment Solutions enables subscribers to instruct automated savings and aims to promote financial resilience and long-term wealth creation among underserved segments of the population.
- •Sycamore Capital, the developer of the Cashlet App, was licensed after successfully graduating from CMA’s Regulatory Sandbox.
- •The app, admitted into the Sandbox on 9 July 2021, was tested as a fully digital platform that aggregates retail investors and enables seamless investment into multiple unit trusts.
“These approvals mark an important step towards deepening capital markets participation, promoting savings and investment among underserved communities, and aligning with Kenya’s broader digital financial inclusion agenda,” CMA Chief Executive Officer FCPA Wycliffe Shamiah said.
