The Capital Markets Authority (CMA) has given nine companies the right to undertake various functions as the watchdog moves to deepen and promote investments. Also benefiting from the latest approvals by the markets watchdog is telco Safaricom which has received the nod to operate Ziidi Money Market Fund.

In an update to the markets, CMA Chief Executive Officer, Mr. Wyckliffe Shamiah said the latest licensing round are vital in "aligning the capital markets with the national Government agenda of enhancing the savings to GDP ratio by offering Kenyans a broader range of investment opportunities in the capital markets.”

CMA gave the green light to AKN Investments Limited to conduct business as a securities dealer, a move that will see the company expand its services to institutional investors. Previously the firm was operating as an investment advisor.

At the same time, Moran Capital Management Limited received CMA approval to operate as an Investment Adviser with a focus on private equity, stock trading, and unit trusts, among other areas.

Also receiving an Investment Adviser License was Entrust Advisory Limited which was tasked to specialize in equities trading, fixed income, and business expansion advisory in the Kenyan markets.

Future Construkt Investment Managers Limited has been approved as a REIT Manager to leverage its expertise in real estate advisory and development.

Financial inclusion

Givva Wealthtech Limited was licensed as an Intermediary Service Platform Provider, with a mission to foster financial inclusion through secure technological platforms offering licensed investment products.

CPF Financial Services, through its subsidiary CPF Capital and Advisory Ltd, has been licensed both as a REIT Manager and Investment Adviser. The REIT Manager license will enhance CPF’s presence in the real estate sector, building on its portfolio restructuring and feasibility services. As an Investment Adviser, CPF will guide clients in managing risks and achieving growth through innovative financial solutions.

Octagon Pension Services Limited has been approved to operate as the Octagon Unit Trust Scheme, which comprises five sub-funds; Octagon Money Market Fund; Octagon Balanced Fund; Octagon Fixed Income Fund; Octagon Equity Fund; and Octagon USD Dollar Money Market Fund.

Trademax Global Markets (KE) Pty Ltd has been granted a non-dealing online foreign exchange broker license. The firm is part of the TMGM Group, which operates through regulated businesses in Australia, New Zealand, and Mauritius markets.

Furthermore, the Authority granted a Money Manager License to Store Poa Enterprise Limited, which is seeking to leverage its expertise in technology to provide online trading solutions for individuals and businesses.

Meanwhile, CMA has granted the nod to Safaricom PLC to set up a collective investment scheme dubbed Ziidi Money Market Fund, as the telco continues to grow its footprint in the country's financial services industry. 

According to the telco, the product will be accessible to investors under the financial services platform M-PESA, offering an innovative way for savers to grow wealth through the capital markets. 

Ziidi Money Market Fund is a platform that brings together three fund managers; ALA Capital Ltd, Standard Investment Bank, and Sanlam Investments East Africa Ltd.

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