CMA Issues Four New Licenses to various Capital Market Players
Nairobi, 22 September 2025 — The Capital Markets Authority (CMA) has granted four new licenses as part of efforts to expand the scope of licensed players in the capital markets.
Fund Managers’ licenses have been granted to Kenya Climate Ventures Limited and EDC Asset Management (Kenya) Limited, further expanding the diversity and depth of Kenya’s asset management sector. This brings the number of licensed fund managers to forty seven (47). This represents a growing interest in the pooled funds segment with assets under management in Collective Investment Schemes rising to Ksh596 billion as of 30 June 2025.
Kenya Climate Ventures Limited focuses on providing both financial and technical assistance to gender-inclusive, climate-smart enterprises. It aims to establish and manage specialized Climate Impact Funds to accelerate investments in projects that promote gender inclusivity, climate change adaptation, and mitigation.
CMA has also licensed EDC Asset Management (Kenya) Limited to provide fund management, investment advisory, and segregated portfolio management services.
Licenses have been granted to Jalia Advisers & Intermediaries Limited and Cooperative Bank, further strengthening Kenya’s capital markets by expanding the range of licensed market participants and service providers.
Jalia Advisers & Intermediaries Limited has been licensed as an Investment Adviser. The firm seeks to deliver well-researched, customized, and sustainable investment solutions, supporting wealth creation and financial inclusion across the country.
A Corporate Trustee License has been granted to Co-operative Bank of Kenya Limited. The bank has extensive experience in the capital markets, serving as a licensed custodian, REIT Trustee, and a listed entity. It currently provides trustee services to several Real Estate Investment Trusts and unit trust schemes.
These approvals demonstrate CMA’s continuous efforts to broaden the diversity of licensed intermediaries, expand investment advisory services, and enhance governance in collective investment schemes, thereby contributing to the Authority’s mandate of developing, regulating, and protecting Kenya’s capital markets.
The licensing of Kenya Climate Ventures Limited and EDC Asset Management (Kenya) Limited demonstrates the Authority’s commitment to fostering a diverse and resilient asset management industry. These approvals bring together impact-driven climate finance and global investment expertise, both of which are vital in driving inclusive growth, sustainable development, and investor confidence in Kenya’s capital markets.
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 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, Manager Corporate Affairs & International Relations on amwangi@cma.or.ke
