NAIROBI, Kenya, Sept 24 – Sycamore Capital Limited’s Cashlet App has received approval from the Capital Markets Authority (CMA) to connect retail investors with licensed fund managers investing in Collective Investment Schemes (CIS).
The clearance follows the app’s admission into the CMA Sandbox on July 9, 2021, where it was tested as a fully digital platform designed to aggregate retail investors and enable seamless investments into multiple unit trusts.
CMA has also licensed Jipay Payment Solutions Limited as an Intermediary Service Platform Provider (ISPP), in a move that strengthens digital innovation and financial inclusion in Kenya’s capital markets.
The firm allows subscribers to automate savings, with a focus on promoting resilience and long-term wealth creation among underserved populations.
The regulator said the approvals are part of its strategy to support homegrown fintech innovations that expand participation in capital markets, enhance investor protection, and advance Kenya’s digital financial inclusion agenda.
