Investors Flood Kenya as Capital Markets Authority Licenses Four New Companies

The Capital Markets Authority (CMA) has expanded Kenya’s investment landscape by licensing four new companies.

The approvals encompass a fund manager, an investment adviser, a corporate trustee, and a securities intermediary, further enhancing the diversity of market participants.

In a notice issued on Tuesday, September 23, the CMA stated that the approvals are intended to deepen and diversify Kenya’s capital markets.

CMA licensed TPXM Global Kenya Limited as a non-dealing online foreign exchange broker and Point Forty Investment Advisory Limited as an Authorised Securities Dealer (ASD).

Silverhouse Capital Limited was also approved as an investment adviser, and Enwealth Impact Debt Fund Limited as an Alternative Investment Fund (AIF).

CMA Licenses TPXM Global, Point Forty, and Two Other Firms

TPXM Global Kenya Limited has been licensed to provide online trading services in foreign exchange, commodities, equities, and contracts for differences (CFDs) on underlying assets.

As an ASD, Point Forty Investment Advisory Limited will provide bespoke investment solutions across Government securities (Treasury bonds and bills) and listed equities on the Nairobi Securities Exchange, targeting institutional, high-net-worth, and retail investors.

Meanwhile, Etica Capital Limited, a licensed Fund Manager, has been granted approval to register the Etica Special Multi-Asset Fund (KES) under the Etica Unit Trust Funds.

The Authority has also approved applications from Etica Capital Limited, Acorn Build-to-Rent Development Real Estate Investment Trust (D-REIT), and Myxeno Investment Management Limited, reinforcing its commitment to broadening investment products available to Kenyan investors.

CMA has also granted authorization to Acorn Build-To-Rent Development Real Estate Investment Trust (REIT).

“The REIT, managed by Acorn Investment Management Limited, is designed to expand Kenya’s affordable rental housing market, enabling investors to participate in large-scale, professionally managed rental property developments,” CMA said.

“The Authority reiterates its dedication to promoting robust regulatory oversight while encouraging innovation and new market entrants that strengthen investor protection and contribute to the growth of Kenya’s financial sector.”

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Kenya Climate Ventures, EDC Asset Management, Jalia Advisers, and Co-op Bank Licensed

This comes a day after CMA granted Fund Manager licenses to Kenya Climate Ventures Limited and EDC Asset Management (Kenya) Limited.

The move increased the total number of licensed fund managers to 47, reflecting growing interest in the pooled funds segment, where assets under management in Collective Investment Schemes reached Ksh596 billion as of June 30, 2025.

Kenya Climate Ventures Limited focuses on providing both financial and technical support to gender-inclusive, climate-smart enterprises.

It aims to establish and manage specialized Climate Impact Funds to accelerate investment in projects that promote gender inclusivity, climate change adaptation, and mitigation.

EDC Asset Management (Kenya) Limited has been licensed to offer fund management, investment advisory, and segregated portfolio management services.

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In addition, CMA licensed Jalia Advisers & Intermediaries Limited as an Investment Adviser and approved the Co-operative Bank of Kenya Limited as a Corporate Trustee.

“Jalia Advisers & Intermediaries Limited seeks to provide well-researched, customized, and sustainable investment solutions that support wealth creation and financial inclusion across Kenya,” CMA noted.

The Co-operative Bank of Kenya, which already operates as a custodian, REIT Trustee, and listed entity, now holds a Corporate Trustee license.

The bank currently provides trustee services to several Real Estate Investment Trusts (REITs) and unit trust schemes, strengthening its role in Kenya’s capital markets.

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