Kenya has opened new investment opportunities as the Capital Markets Authority (CMA) has approved new investment products and licenses involving several financial firms in Kenya.
The approvals cover additional Collective Investment Scheme sub-funds and a new Alternative Investment Fund, expanding the range of regulated savings and investment options available to investors.
In a statement on August 12, CMA said the approvals are intended to broaden investor choice across money market, fixed income, multi-asset, global equity and climate-focused investment products.
“The approvals broaden the range of regulated savings and investment options available to Kenyan investors, from money market and fixed income products to actively managed multi-asset and global strategies and climate-focused alternative investments,” the statement read in part.
It further stated that the move is part of efforts to deepen Kenya’s capital markets, promote innovation and expand access to investment services.
New Investment Funds Approved by CMA
The CMA has authorized Britam Asset Managers Limited to register two new sub-funds under the existing Britam Unit Trust Funds umbrella scheme.
These are the Britam Multi Asset Special Fund (KES) and the Britam Enhanced Global Equities Special Fund (USD).
“Among the approvals, the Authority has authorized Britam Asset Managers Limited to register two new sub-funds under the existing Britam Unit Trust Funds umbrella scheme, the Britam Multi Asset Special Fund (KES) and the Britam Enhanced Global Equities Special Fund (USD).”
The Britam Multi Asset Special Fund will also pursue long-term capital growth and income through a diversified, actively managed portfolio.
Its investments will span local and global equities, local and global fixed income, alternative assets and tactical overlay strategies.
The Britam Enhanced Global Equities Special Fund will provide investors with shilling-denominated exposure to global equity markets without requiring them to hold foreign currency accounts directly.
Additionally, CMA has approved additional products under the Zimele Unit Trust Funds, including the Zimele USD Money Market Fund, Zimele USD Fixed Income Fund, Zimele Fixed Income Fund, Zimele Education Plan and Zimele Saving Plan.
The products expand the scheme’s range of shilling- and dollar-denominated investment options, as well as goal-based savings plans for retail and institutional investors.
New Market Licenses and Approvals
The latest CMA approvals also include licenses for several market intermediaries. Kestrel Capital has been upgraded from a Stockbroker to a Broker-Dealer license.
Hass Crest Capital has received a Fund Manager license, while Livonna Advisory Partners has been granted an Investment Adviser license.
Liaison Wealth has also received a Corporate Trustee license, adding to the range of regulated financial market services available in Kenya.
The Capital Markets Authority said the approvals are aimed at expanding investment choices, strengthening innovation and supporting wider participation in the country’s capital markets.
“The approvals broaden the range of regulated savings and investment options available to Kenyan investors,” CMA stated.
Green Investment Fund Approved
At the same time, the CMA has approved Britam Asset Managers (Kenya) Limited to register the Green Investment Fund LLP as an Alternative Investment Fund under the Capital Markets (Alternative Investment Funds) Regulations, 2023.
The fund will invest in growth-stage green and greening Micro, Small and Medium Enterprises (MSMEs) based primarily in Kenya and the East African Community.
According to the CMA, the fund will target businesses contributing to climate change mitigation, adaptation and resilience, while aligning with Kenya’s national and international climate goals.
The fund will use various financing structures, including direct equity, mezzanine financing, quasi-equity and other flexible financing arrangements.
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