The Capital Markets Authority (CMA) has granted global fintech group Capital.com a permit to operate as a Dealing Online Foreign Exchange Broker. 

This move will see Capital.com start offering regulated online forex and trading services to clients in Kenya, acting as a compliant counterparty and providing onboarding, execution, and client support in line with CMA requirements.

According to the fintech, which has trading hubs in London, Dubai, Warsaw, Nassau, Sofia, Limassol, and Melbourne, its entry into Kenya aligns with its strategy of accessing markets responsibly under established regulatory frameworks. 

Its presence in Kenya also forms part of the group’s long-term commitment to operate  within clearly defined risk and compliance standards. 

To lead its operations in Kenya, the fintech has appointed Samwel Kiraka as Chief Executive Officer. He will be responsible for establishing and overseeing local operations in line with CMA requirements, including governance, compliance and client operations.

"Operating under local regulatory supervision is a fundamental requirement for offering financial services responsibly. The CMA licence provides a clear framework for how we operate in Kenya, including how we communicate risk, support clients and maintain appropriate controls. Our focus is on providing access to markets within a regulated environment that prioritises transparency and informed decision-making," explained Capital.com executive director Valentina Rzheutskaya.

Under CMA oversight, the firm said its services will be delivered in accordance with Kenyan regulatory requirements, including ongoing reporting obligations and supervisory standards.

“Capital.com’s priority in Kenya is to operate within the framework set by the Capital Markets Authority and to build local operations that meet regulatory and operational expectations from day one," noted Samwel Kiraka, CEO Kenya at Capital.com.

Globally, Capital.com said it operates through regulated entities authorised by financial regulators including the UK Financial Conduct Authority, the Cyprus Securities and Exchange Commission, the Australian Securities and Investments Commission, the Securities Commission of The Bahamas and the UAE Securities and Commodities Authority.