Kenya: CMA Licenses Three Fund Managers

Nairobi — The Capital Markets Authority (CMA) has issued licenses to African Alliance Kenya Asset Managers Limited, CPF Financial Services Limited, and Kuza Asset Managers Limited to operate as fund managers in the capital markets.

A fund manager is a manager of a collective investment scheme (such as a unit trust), registered venture capital company or an investment adviser who manages a portfolio of securities more than an amount prescribed by the Authority from time to time.

While issuing the approval, the Authority noted that it had revoked the license of African Alliance Kenya Investment Bank to operate as a licensed investment bank.

'The investment bank notified the Authority of its intention to cease operation of their Investment Bank activities, and we accepted the request for revocation of its Investment Bank license," CMA Chief Executive Officer Wyckliffe Shamiah noted.

The approval raises the total number of licensed fund managers to 29.


AllAfrica publishes around 700 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.