NAIROBI, Kenya — The Capital Markets Authority has approved the issuance of three investment banking licences in a move aimed at expanding Kenya’s full-service capital markets capacity and deepening financial sector growth.
In a press statement released on Thursday, the regulator said the approvals were upgrades from existing intermediaries and form part of broader efforts to strengthen innovation, diversification, and investor confidence within Kenya’s capital markets sector.
The authority noted that the newly licensed firms will broaden the range of professional investment services available to issuers, institutional investors, retail clients, and diaspora investors.
Three Firms Granted Investment Bank Status
Among the firms approved is Cinemark Consult Limited, which has been upgraded from an Authorised Securities Dealer to an Investment Bank.
According to the regulator, the firm will now offer a wider portfolio of services, including corporate advisory, securities dealing, underwriting, fund management, and market-making services through a single licensed entity.
The firm is expected to target institutional investors, corporates, retail investors, diaspora clients, and high-net-worth individuals.
The authority also approved Fintrust Securities Limited to upgrade from an Authorised Securities Dealer to an Investment Bank licence.
The upgrade expands Fintrust’s operations into corporate finance advisory, debt and equity capital raising, underwriting, wealth management, research services, and enhanced fixed-income trading.
AIB-AXYS Africa Upgraded From Stockbroker
In a further expansion of Kenya’s investment banking segment, the regulator approved AIB-AXYS Africa Limited to transition from a stockbroker to a fully licensed investment bank.
The company will now provide additional services, including corporate finance advisory, capital raising, underwriting and syndication, wealth management, sustainable finance advisory, and alternative investments.
The firm will also enhance digital access for retail and diaspora investors through its trading platform, reflecting growing demand for technology-driven financial services.
CMA Targets Market Growth and Investor Confidence
The regulator said the approvals are expected to increase market depth, improve product diversity, and strengthen investor and issuer choice within Kenya’s capital markets ecosystem.
“The Authority remains committed to maintaining high regulatory standards while supporting innovation and responsible market development,” the statement said.
The move aligns with Kenya’s broader financial sector reforms aimed at positioning Nairobi as a regional financial hub and attracting more domestic and foreign investment into the economy.
