The Capital Markets Authority’s Strategic Plan 2018-2023 will focus on leveraging technology to propel efficiency in the capital markets value chain as one of its objectives.
The Plan was created through a consultative process with stakeholders such as “partner regulators, licensed intermediaries and investors, benchmarking with developed and emerging markets (including the US, UK, Australia, Malaysia, South Africa and Brazil) and support from capital market consultants with expertise from across the UK, Europe, Latin America, Asia and Africa.”
The Strategic Plan will also focus on objectives such as “facilitating the development, diversification and uptake of capital markets products and services, ensuring sound market infrastructure operations and market institutions, and ensuring optimal institutional efficiency and effectiveness of CMA.”
The plan is aligned to the Big Four agenda, the Capital Market Master Plan (CMMP), UN’s SDGs, the Government’s National Development Agenda, and the Vision 2030 Third Medium Term Plan (MTP III).
“The Plan is also timely as it aims at addressing the technological revolution happening in Kenya and the evolving needs of local and international investors. The Plan, therefore, provides a blueprint for the Authority to align its resources to best meet the demands of a more connected, digital and sophisticaCMAted capital market in the country,” CMA’s soundness report says.
The Authority was recently recognised as the most innovative capital markets regulator in Africa. The regulator is also working on a regulatory sandbox which indicates its commitment to spearhead technology in the country’s financial sector.
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