NAIROBI, Kenya– The Capital Markets Authority (CMA) has issued four new licenses to market players, expanding the scope of intermediaries in an industry where assets under management in Collective Investment Schemes rose to Sh596 billion by June 2025.
The approvals were granted to Kenya Climate Ventures Limited as a fund manager for specialized climate impact funds, EDC Asset Management (Kenya) Limited for fund management and advisory, Jalia Advisers & Intermediaries Limited as an investment adviser, and Co-operative Bank of Kenya as a corporate trustee.
“This brings the number of licensed fund managers to forty-seven, reflecting rising investor appetite for pooled funds,” CMA said in a statement.
“Licensing additional players strengthens market depth, governance, and investor confidence.”
Kenya Climate Ventures is expected to focus on gender-inclusive, climate-smart enterprises through dedicated impact funds, aligning with Kenya’s growing demand for sustainable finance.
EDC Asset Management, an affiliate of the pan-African investment group, has been cleared to offer fund management, investment advisory, and segregated portfolios, signaling increased competition in the institutional and retail segments.
“Fund managers are under pressure to diversify products beyond traditional unit trusts,” an industry analyst noted.
“Specialized climate funds and tailored portfolios are part of that shift.”
Jalia Advisers has entered the market with a license to provide investment advisory services, targeting customized solutions for wealth creation and financial inclusion.
Co-operative Bank, already active as a custodian and REIT trustee, expands its footprint with a corporate trustee license, reinforcing its position as a key institutional player in the capital markets.
“Co-op Bank’s trustee role adds to its growing influence in collective schemes, real estate trusts, and unit trust services.”
“This ensures stronger safeguards for investors and compliance with regulatory standards.”
The approvals come amid renewed momentum in Kenya’s capital markets, where regulators are seeking to broaden investor participation and align with global standards on transparency and sustainable finance.
