The Capital Markets Authority (CMA) announced the approval of three new Investment Bank licenses. These approvals are part of a broader effort to expand full-service investment banking capacity and diversify the professional services available to both local and international investors. The three newly approved investment banks are not new entrants to the market but represent upgrades from existing intermediaries.
Cinemark Consult Limited
Cinemark was previously licensed as an Authorized Securities Dealer, Cinemark’s upgrade allows it to offer a comprehensive suite of services including corporate advisory, securities dealing, underwriting, fund management, and market-making. The firm aims to serve a diverse client base ranging from retail and diaspora investors to high-net-worth individuals and institutional corporates.
Fintrust Securities Limited
Fintrust is also upgrading from an Authorised Securities Dealer license, Fintrust will now expand its scope to include debt and equity capital raising, wealth and asset management, and enhanced fixed-income trading.
AIB-AXYS Africa Limited
Was formerly a Stockbroker, this firm’s new status allows it to move beyond equities and fixed income brokerage. It will now provide corporate finance advisory, sustainable finance advisory, and alternative investments, utilizing its digital trading platform to offer better access for retail and diaspora investors.
CMA Market Growth and Total Licensees
The addition of these three firms brings the total number of licensed investment banks and securities entities to 22, according to the latest records from the Capital Markets Authority (CMA). The increase signals a notable shift in Kenya’s capital markets, as intermediaries increasingly move toward offering integrated, “one-stop-shop” financial solutions. The complete list of these licensees is as follows:
- ABSA Securities Limited
- Dyer and Blair Investment Bank Limited
- Equity Investment Bank Limited
- Faida Investment Bank Limited
- Genghis Capital Limited
- KCB Investment Bank Limited
- NCBA Investment Bank Limited
- Renaissance Capital (Kenya) Limited
- SBG Securities Limited
- Standard Investment Bank
- Sterling Capital Limited
- Dry Associates Limited
- Salaam Investment Bank Kenya Limited
- Gulfcap Investment Bank Limited
- Pergamon Investment Bank Limited
- Investcent Investment Bank Limited
- Capital A Investment Bank Limited
- Victoria Wealth Management Limited
- Rock Investment Bank Limited
- Fintrust Securities Limited
- AIB-AXYS Africa Limited
- Cinemark Consult Limited
According to the CMA, these regulatory upgrades are expected to enhance market depth and broaden product diversity. By enabling firms to offer a wider array of services including underwriting and syndication, the authority aims to strengthen investor confidence and provide more robust support for issuers seeking to raise capital.
Also read: CMA Approves 16 New Funds to Expand Investor Choice in Capital Markets
