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Press Release

 CMA clarifies compliance status of SIB business (MansaX) under the Money Manager License

Nairobi, 18 November 2020…The Capital Markets Authority (CMA) confirms that Standard Investment Bank (SIB), which operates as Kenya’s first Money Manager licensee (trading as MansaX), is in compliance with the Capital Markets Act, and the Capital Markets (Online Foreign Exchange Trading) Regulations, 2017. This follows unfounded claims that SIB may be operating the business in breach of the regulatory framework.

The Money Manager license was granted in December 2018 to SIB, which is also licensed by CMA to operate as an Investment Bank. SIB has been in operation for 25 years.

The CMA Acting Chief Executive, Mr. Wyckliffe Shamiah said; ‘In line with our investor protection mandate, we assure all stakeholders including investors that the SIB operations under the Money Manager license are in compliance. We also undertake regular monitoring and surveillance of all licensed entities. We confirm that the compliance levels of the operations of SIB under the Money Manager license meet the standards’’.

‘’As a money manager, SIB is licensed to choose and manage investments prudently for its online forex trading clients and develop appropriate investment strategies. SIB also communicates clients’ buy and sell order positions through a licensed online forex trading broker, to meet clients’ investment goals. The money manager conducts financial analysis and monitors foreign exchange portfolio investments on behalf of its clients’’, explained Mr. Shamiah.

In addition to the Money Manager license to SIB, CMA has also licensed four non-dealing online foreign exchange brokers namely; EGM Securities Ltd (trading as FXPesa), SCFM Ltd (trading as Scope Markets), Pepperstone Markets Kenya Limited, and Exinity Capital East Africa Limited.


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.

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, Head of Corporate Communications on This email address is being protected from spambots. You need JavaScript enabled to view it.


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