CMA approves the grant of three Investment Bank Licenses to expand full-service capital markets capacity
Nairobi, 28 May 2026…The Capital Markets Authority (CMA) has approved the grant of three Investment Banking licenses, all of which are upgrades from existing intermediaries. The approvals form part of the Authority’s ongoing efforts to expand full-service investment banking capacity in Kenya, broaden the range of professional capital markets services available to issuers and investors, and support innovation, deepening and diversification of the market.
Among the firms granted the Investment Bank Licenses is Cinemark Consult Limited, previously licensed as an Authorised Securities Dealer, to upgrade to an Investment Bank. The new Investment Bank intends to deliver a comprehensive range of capital markets services, including corporate advisory, securities dealing, underwriting, fund management and market-making, through a single licensed entity. The target client base spanning institutional investors, corporates, retail investors, diaspora clients and high-net-worth individuals.
The Authority has also approved Fintrust Securities Limited, previously licensed as an Authorised Securities Dealer, to upgrade to an Investment Bank license. The upgrade will expand the firm’s scope to include corporate finance advisory, underwriting, debt and equity capital raising, wealth and asset management, research, and enhanced fixed-income trading
In further strengthening the investment banking segment, the Authority has approved AIB-AXYS Africa Limited to upgrade from a Stockbroker to an Investment Bank. Beyond its existing brokerage services in equities and fixed income, the firm will now offer corporate finance advisory, capital raising, wealth management, underwriting and syndication, alternative investments and sustainable finance advisory, including digital access for retail and diaspora investors through its trading platform.
CMA notes that these approvals will contribute to increased market depth, improved product diversity, enhanced issuer and investor choice, and strengthened confidence in Kenya’s capital markets. The Authority remains committed to maintaining high regulatory standards while supporting innovation and responsible market development.
ENDS
BACKGROUND INFORMATION ON THE CAPITAL MARKETS AUTHORITY
The Capital Markets Authority (CMA) was set up in 1989 as a statutory agency under the Capital Markets Act Cap 485A. It is charged with the prime responsibility of both regulating and developing an orderly, fair, and efficient capital markets in Kenya with the view to promoting market integrity and investor confidence. CMA also regulates the structured commodity markets and online forex trading. The regulatory functions of the Authority as provided by the Act and the regulations include; Licensing and supervising all the capital market intermediaries; Ensuring compliance with the legal and regulatory framework by all market participants; Regulating public offers of securities, such as equities and bonds & the issuance of other capital market products such as collective investment schemes; Promoting market development through research on new products and services; Reviewing the legal framework to respond to market dynamics; Promoting investor education and public awareness; and Protecting investors’ interest. For more information, please contact: Antony Mwangi, Assistant Director Corporate Communications & International Affairs on amwangi@cma.or.ke
