NAIROBI, Kenya, Mar 13 – The Capital Markets Authority (CMA) has clarified the status of Genghis Capital Limited, stating that the firm has not been placed under statutory management.
CMA, in a statement released, emphasized that the company is currently in discussions to resolve outstanding contractual obligations with a third party.
The statement comes in response to recent public speculation regarding the company’s financial stability.
The Authority noted that while Genghis Capital has unmet contractual obligations, the firm has been directed to expedite efforts to reach a resolution.
“The operations of the Genghis Unit Trust Scheme remain fully regulated under the Capital Markets (Collective Investment Schemes) Regulations 2023,” read the statement in part, emphasizing the continued oversight of client assets.
CMA confirmed that client assets in the Unit Trust Scheme are required to be held by a custodian in segregated accounts, separate from those of the firm.
“We urge Genghis Capital to conclude discussions on the unmet contractual obligations without delay,” the Authority added.
