Kenya’s Capital Markets Authority (CMA) has granted several new licenses and approvals across multiple sectors citing move to deepen the capital markets industry.
Mi Vida Homes Licensed as REIT Manager
Mi Vida Homes Limited has been licensed as a Real Estate Investment Trust (REIT) Manager. The regulator said the move is aimed at enhancing the development of real estate infrastructure and supporting the national government’s agenda for affordable housing. Mi Vida will provide real estate management services for REITs, joining other licensees in facilitating the growth of real estate infrastructure.
New Licenses in Coffee Brokerage
The CMA has also issued full coffee brokerage licenses to three companies: Nandi Coffee Co-operative Union Coffee Brokers Limited, Meru South Coffee Marketing Company Ltd, and Minnesota Coffee Marketers Limited. This brings the total number of fully licensed coffee brokers to 16. According to the regulator, the new licenses are expected to enhance the uptake of new commodities products and services, thereby growing market turnover. Additionally, New Kenya Planters Co-operative Union PLC (NKPCU) has received a six-month extension to continue operating as a conditionally licensed coffee broker until February 2025.
New Approvals in Fund Management
The CMA has also approved the registration of new unit trust sub-funds, reflecting growing interest in Collective Investment Schemes (CIS). Notable approvals include:
- •CPF Asset Managers: Four new funds (CPF Money Market Fund, CPF Balanced Fund, CPF Bond Fund, CPF USD Money Market Fund).
- •Investcent Investment Bank: Ten new funds, including Investcent Multi-Asset Special Fund and Investcent Shariah Multi-Asset Special Fund.
- •Spearhead Africa Asset Management Limited: Spearhead Africa Infrastructure (Special) Fund.
- •Renaissance Capital (Kenya) Ltd: Five new sub-funds, including Rencap Money Market Fund and Rencap Balanced Fund.
- •Britam Asset Managers Limited: Britam Fixed Income Fund (USD).
- •Standard Investment Bank (SIB) Mansa X: Four new funds, including Mansa X Special Fund and Mansa X Special Shariah Fund.
- •GulfCap Investment Bank Limited (GCIB): GCIB Multi-Asset Special Fund and GCIB Shariah Multi-Asset Special Fund.
These approvals raise the number of registered collective investment schemes (CIS) to 40, underscoring the CMA’s commitment to increasing the uptake of capital markets products through enhanced awareness and reduced access barriers.
Corporate Trustee and Investment Adviser Licenses
CMA has also granted licenses to Kingsland Court Trustee Services Limited as a corporate trustee and Mirova Sunfunder East Africa Limited as an investment adviser. Moreover, Securities Africa Kenya Limited has been upgraded from a licensed stockbroker to an investment bank.
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