CMA admits Acorn to regulatory sandbox for a year

The Capital Markets Authority (CMA) has admitted Acorn Investment Management Limited to the regulatory sandbox for one year.

The admission is due to the development of its investment platform dubbed ‘Vuka’ which aggregates retail investors into asset-backed financial products such as real estate through a regulated and transparent structure.

“The Authority is cognizant of Acorn’s commitment to support capital markets development and growth. The innovation further supports Kenya’s Big 4 agenda on affordable housing. We are hopeful of a successful testing and eventual roll out of the innovation to the mass market,” said Wyckliffe Shamiah, CMA Chief Executive Officer.

Vuka is a cross-over from illiquid and opaque forms of real estate plagued by land disputes and pyramid schemes to predictable and stable returns generated by assets with high demand.

Its value proposition is enabling the public to accumulate wealth and achieve financial freedom by investing in a diversified portfolio of income generating rental housing such as the Acorn Income Real Estate Investment Trust (REIT).

The innovation will target qualified retail investors such as investment clubs (chamas), saccos and other medium-to-long term retail investors.

  

Latest posts

Liberalise airspace to promote tourism in EA, Partner States told

Christine Muchira

New pesticide launched in the flower sector to control powdery mildew

Eric Biegon

Kisumu bar owners decry 6.3 percent excise duty increase on alcoholic products

Eric Biegon

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

%d bloggers like this: