Kenyan Fintech Kweli Capital Approved to Register Unit Trust Funds

The Capital Markets Authority (CMA) has granted approval to Kweli Capital to register unit trust funds, becoming the latest institution to eye the investment management business.

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The company is expected to incorporate the funds and file their details with the regulator before it can launch them.

"Approval is hereby granted for consent to register the Amaka Unit Trust (Umbrella) Fund comprising of Amaka Hosp Fixed Income Fund and Amaka Qualified Investor Tenant Purchase Scheme Fund," CMA's chief executive Wyckliffe Shamiah wrote to Kweli Capital.

Kweli Capital, which started as a technology company, is the technical service provider to the Boma Yangu Portal.

Boma Yangu is an official online portal that allows Kenyans to register online, make contributions, apply and qualify for homes that are to be developed countrywide under the State-Backed Affordable Housing Plan.