This archive report was first published on 7 May 2020.
As the COVID-19 pandemic continues to confine people at home, the Capital Markets Authority (CMA) is proposing a radical transformation of stock market transactions into electronic or e-mobile platforms.
According to the CMA's Capital Markets Soundness report, clients would be able to register, trade, and receive cash through their mobile handsets, eliminating the need to physically visit a stockbroker or the Central Bank of Kenya.
Currently, registering for bond trading, for example, requires a considerable amount of paperwork and a physical presence at the initial point.
The CMA is also exploring the viability of electronic annual general meetings (e-AGMs) for capital market players, which could be tested in the CMA regulatory sandbox.
Additionally, the report recommends that listed companies adopt business continuity measures and include the effects of the COVID-19 pandemic in their business plans and projections.
