The Capital Markets Authority (CMA) has issued two new Intermediary Service Platform Provider (ISPP) licenses, underscoring efforts to deepen Kenya’s capital markets.
The Authority approved the Chumz mobile application, a savings and investment platform that aggregates and links retail investors to Collective Investment Schemes (CISs). Chumz, a fintech operated by Moneto Ventures Limited, was admitted into and successfully exited the CMA’s Regulatory Sandbox in August 2022.
The CMA also licensed Pesa Bridge Limited as an ISPP. The company operates a mobile application that connects retail investors with licensed fund managers and custodians, aiming to digitize access to and distribution of CISs across Kenya and the wider East African region.
CMA Pushes for Inclusive and Innovative Capital Markets Ecosystem
The approvals mark a key step in the regulator’s efforts to deepen Kenya’s capital markets, enhance innovation, and improve accessibility to investment services across various investor segments. Additionally, the move highlights the regulators commitment to creating a well-regulated, inclusive, and dynamic capital markets ecosystem.
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