The Capital Markets Authority (CMA) has licensed Safaricom Plc and Airtel Money Kenya Limited to operate as Intermediary Service Platform Providers (ISPPs), in a move expected to deepen digital access to Kenya’s regulated capital markets.
In the same announcement, the regulator approved CC Kenya Securities Limited, trading as Capital.com, to operate as a Dealing Online Foreign Exchange Broker, expanding the country’s regulated online forex trading space.
CMA said the entry of Safaricom and Airtel Money into the intermediary services segment is expected to enhance competition, broaden investor choice and strengthen access to capital markets products through digital platforms.
Under the Capital Markets (Online Foreign Exchange Trading) Regulations, 2017, a dealing broker is authorised to act as a principal and market maker in online foreign exchange trading. This includes opening and managing client accounts, providing trading platforms, offering market information, monitoring trading positions and issuing end-of-day reports.
The regulator noted that it has so far licensed 13 non-dealing online forex brokers, two dealing online forex brokers and three money managers. According to CMA, the growing number of licensed players reflects increased institutional interest and the continued expansion of Kenya’s regulated online forex trading ecosystem.
The latest approvals underscore CMA’s push to promote innovation while ensuring investor protection within the capital markets sector.
