CMA Expands Digital Investment Access with New Fintech Approvals
Kenya's capital markets regulator, the Capital Markets Authority (CMA), has approved two fintech firms to operate digital investment access platforms. This move widens the reach of regulated investment products through mobile technology as competition for retail investors intensifies.
The new approvals allow Moneto Ventures Limited and Pesa Bridge Limited to run Intermediary Service Platform Provider operations under the Capital Markets (Collective Investment Schemes) Regulations, 2023.
Moneto Ventures and Chumz Mobile App
Moneto Ventures will operate through its Chumz mobile application, a platform that links users to collective investment schemes using mobile-based savings tools. The company previously tested its model in the CMA regulatory sandbox before receiving full market approval after exiting the programme in August 2022.
Pesa Bridge Digital Infrastructure
Pesa Bridge received approval for infrastructure designed to connect retail investors with licensed fund managers and custodians through digital channels. The company says it is building a distribution layer for collective investment products targeting users in Kenya and the broader East African market.
Key Benefits for Retail Investors
- Simplified access to regulated investment products via mobile platforms
- Lower barriers to entry for first-time investors in Kenya
- Enhanced competition among fintech firms, driving better services and lower fees
Why Mobile Investing Is Growing in Kenya
The regulator is increasingly turning to fintech distribution models as mobile money usage and smartphone adoption continue to change how younger consumers interact with financial services. Traditional investment products such as money market funds and collective investment schemes have recorded stronger uptake through mobile-first channels over the last several years.
Regulatory Oversight and Market Expansion
In a statement, the CMA said the licences form part of efforts to broaden participation across different categories of investors while maintaining regulatory oversight of digital financial products.
“The approvals form part of CMA’s ongoing efforts to deepen Kenya’s capital markets, enhance innovation and expand access to investment services across diverse investor segments,” the authority said.
Impact on Kenya's Investment Industry
The approvals also point to a wider operational shift inside Kenya’s investment industry. Fund managers are increasingly relying on fintech infrastructure firms to acquire customers, process onboarding and simplify transactions that previously required branch visits or paperwork-heavy processes.
The market has become more competitive as financial technology firms move deeper into savings, investments and wealth management products traditionally controlled by banks and established financial institutions. Recent growth in low-barrier mobile investing platforms has also increased pressure on regulators to expand supervision frameworks around digital distribution channels.
CMA said the latest approvals support its broader objective of building a more inclusive and technology-driven investment ecosystem for retail participation.
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