This archive report was first published on 3 September 2019.
Published on September 3, 2019, the Capital Markets Authority (CMA) issued a warning to the public against investing in WIE Limited, a firm targeting women investors.
The CMA stated that the activities of WIE Limited were unauthorized, having already raised unspecified amounts of money from 279 women.
Despite the warning, the CMA has yet to involve law enforcement agencies to deal with cases like these, allowing crime to potentially go unpunished.
For years, Kenya has been plagued by pyramid schemes and rogue investment ventures, preying on the public's desire for quick and handsome returns.
Regulators, including the CMA, have a responsibility to educate and protect the public from such unscrupulous entities.
It is surprising that the CMA has only offered a warning, rather than taking more proactive measures to prevent such schemes from thriving.
