The Capital Markets Authority (CMA) has approved licences for a range of firms, strengthening Kenya’s financial landscape and expanding opportunities in the capital markets.

The approvals, which span multiple categories, are set to drive innovation, broaden access, and align with the government's agenda of improving the savings-to-GDP ratio.

"In an effort to deepen and promote development of the capital markets, the Capital Markets Authority (CMA) has granted approval to several firms across various license categories," CMA stated in a press release.

AKN Investments Limited stands out among the beneficiaries, transitioning from an Investment Adviser to an Authorised Securities Dealer.

The firm will now cater to institutional investors, a significant leap in its service offerings.

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Moran Capital Management Limited secured a licence as an Investment Adviser, opening avenues in private equity, stock trading, and unit trusts.

Entrust Advisory Limited similarly obtained an Investment Adviser licence, focusing on equities trading, fixed income, and business expansion strategies.

The real estate sector gained a boost through Future Construkt Investment Managers Limited, now licensed as a REIT Manager, and CPF Capital and Advisory Limited, a subsidiary of CPF Financial Services, which also received dual approvals as a REIT Manager and Investment Adviser.

CPF plans to enhance its real estate footprint while offering innovative risk management and growth solutions.

Financial technology firm Givva Wealthtech Limited was approved as an Intermediary Service Platform Provider, aiming to enhance financial inclusion by offering secure investment products through advanced technology.

Meanwhile, Octagon Pension Services Limited received a licence to operate the Octagon Unit Trust Scheme, encompassing five sub-funds: Octagon Money Market Fund, Balanced Fund, Fixed Income Fund, Equity Fund, and USD Dollar Money Market Fund.

Store Poa Enterprise Limited was awarded a Money Manager licence, allowing it to deliver online trading solutions tailored for individuals and businesses.

International player Trademax Global Markets (KE) Pty Ltd entered the Kenyan market with a non-dealing online foreign exchange broker licence, leveraging its presence in Australia, New Zealand, and Mauritius as part of the TMGM Group.

Speaking on the approvals, CMA Chief Executive Officer Wyckliffe Shamiah highlighted their strategic importance.

"These licenses are key to 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," Shamiah stated.

The CMA's move underscores its commitment to deepening Kenya’s financial markets while encouraging innovation and inclusivity.