The Capital Markets Authority (CMA) has finalized the revised Capital Market Master Plan (2014-2023), with technical support from FSD Africa, to align with evolving economic and technological landscapes.
Developed through collaboration with industry stakeholders, the plan aims to mobilize savings and drive investments toward Vision 2030 goals. CMA CEO Wycliffe Shamiah stated the review addresses post-pandemic disruptions, global shifts, and technological advancements in capital markets.
Key updates include clarifying the roles of CMA-Kenya and the Nairobi International Financial Centre Authority (NIFCA) in regulating and promoting markets. The revised framework emphasizes harmonizing regulatory standards with international best practices to attract foreign investment.
The plan introduces measures to expand private equity and debt capital access for asset managers, retirement schemes, and individual investors. It also prioritizes Environment, Social, and Governance (ESG) principles, focusing on developing a green taxonomy beyond climate finance to include natural capital and conservation.
Shamiah highlighted new priorities such as leveraging digital platforms to improve retail and institutional investor access, and increasing SME participation in capital markets. The revised strategy also emphasizes liquidity tools like market making, short selling, and over-the-counter transactions to strengthen equity and debt markets.
British High Commissioner Jane Marriott noted the review, supported by the UK Government, positions Kenya as a regional financial hub while advancing green finance to aid post-pandemic recovery and climate action.
FSD Africa CEO Mark Napier called the update timely, enabling stakeholders to focus on economic resilience and sustainable growth. The revision was part of the Africa Regulatory Support Programme, with FSD Africa providing technical assistance.
