Capital Markets

Kweli Capital gets the nod to enter unit trust business

cma

Capital Markets Authority (CMA) CEO Wyckliffe Shamiah on April 29, 2021. PHOTO | LUCY WANJIRU | NMG

Summary

  • CMA has granted approval to Kweli Capital to register unit trust funds, becoming the latest institution to eye the investment management business.
  • Kweli Capital, which started as a technology company, is the technical service provider to the Boma Yangu Portal.
  • Boma Yangu is an online portal that allows Kenyans to register online, make contributions, apply and qualify for homes that are to be developed countrywide under the State-Backed Affordable Housing Plan.

The Capital Markets Authority (CMA) has granted approval to Kweli Capital to register unit trust funds, becoming the latest institution to eye the investment management business.

The company is expected to incorporate the funds and file their details with the regulator before it can launch them.

“Approval is hereby granted for consent to register the Amaka Unit Trust (Umbrella) Fund comprising of Amaka Hosp Fixed Income Fund and Amaka Qualified Investor Tenant Purchase Scheme Fund,” CMA’s chief executive Wyckliffe Shamiah wrote to Kweli Capital on April 28.

Kweli Capital, which started as a technology company, is the technical service provider to the Boma Yangu Portal.

Boma Yangu is an online portal that allows Kenyans to register online, make contributions, apply and qualify for homes that are to be developed countrywide under the State-Backed Affordable Housing Plan.

More institutions are entering the investment management business, targeting retail investors. Asset managers earn fees, with the operations becoming more lucrative as funds grow.

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