The Capital Markets Authority (CMA) has confirmed the entry of four new players into Kenya’s financial sector, a move aimed at widening the scope of licensed market participants.

“Capital Markets Authority (CMA) has granted four new licenses as part of efforts to expand the scope of licensed players in the capital markets,” the regulator announced.

The approvals included two fund manager licences, lifting the total number of licensed fund managers in the country to 47. CMA emphasised the growing appetite for pooled funds, with collective investment schemes managing Sh596 billion as of June 30, 2025.

“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,” it said.

Kenya Climate Ventures has been tasked with managing climate-focused funds that support enterprises addressing gender inclusivity, adaptation, and mitigation challenges.

Alongside it, EDC Asset Management (Kenya) Limited will provide a wide scope of financial services.

“CMA has also licensed EDC Asset Management (Kenya) Limited to provide fund management, investment advisory, and segregated portfolio management services,” the Authority confirmed.

Two other licences went to Jalia Advisers & Intermediaries Limited and Co-operative Bank of Kenya.

Jalia has been cleared to operate as an investment adviser, with a focus on customised and sustainable solutions that drive financial inclusion across the country.

Co-operative Bank, already active as a custodian and REIT trustee, has now been granted a Corporate Trustee Licence, adding to its trustee services for unit trust schemes and real estate trusts.

According to CMA, the new approvals highlight its strategy of diversifying intermediaries, strengthening advisory services, and enhancing governance in collective investment schemes.

The Authority said that combining climate finance initiatives with global asset management expertise is key to boosting investor confidence and fostering inclusive growth.