CMA APPROVES A LICENCE UPGRADE AND GRANTS NEW INTERMEDIARY LICENCES TO STRENGTHEN MARKET CAPACITY

Nairobi 12 August 2026… The Capital Markets Authority (CMA) has approved several licence applications from firms seeking to operate as market intermediaries, comprising an upgrade from a Stockbroker to a Broker-Dealer licence, a Fund Manager licence, an Investment Adviser licence and a Corporate Trustee licence. The approvals form part of the Authority’s ongoing efforts to expand full-service capital markets capacity, deepen Kenya’s capital markets and broaden the range of professional services available to investors across retail, institutional, corporate, diaspora and high-net-worth segments.

Among the approvals, the Authority has approved Kestrel Capital (East Africa) Limited to upgrade from a Stockbroker licence to a Broker-Dealer licence pursuant to the Capital Markets (Licensing Requirements) (General) Regulations, 2025. Beyond its existing securities brokerage, investment advisory, research and wealth management services, the firm will undertake dealing in securities as principal, proprietary and fixed income trading, securities placement, liquidity provision, and the promotion and arrangement of securities issuances, offering integrated capital markets solutions to retail, institutional, corporate and high-net-worth clients within Kenya and the wider East African region.

The Authority has also granted a Fund Manager licence to Hass Crest Capital Limited. The firm intends to operate as a Sharia-compliant fund manager, combining global best practices in asset management with the principles of Islamic finance to deliver transparent, asset-backed investment solutions, with a strategy centred on Sukuk structuring, fund management, investment advisory, structured investment solutions and alternative investments.