:: FINANCIAL AND CAPITAL MARKETS
Kenya has the most sophisticated financial and capital markets in the East African region. Professional standards among bankers, investment advisers, fund managers, accountants, lawyers, brokers and other intermediaries are high.
The Central Bank of Kenya is responsible for management of Kenya's financial and banking system, in tandem with the Treasury. Bank supervision is of a high standard. There are over 40 licensed banks and numerous other financial institutions such as building societies, foreign exchange bureau and credit reference agencies.
The Capital Markets Authority is responsible for regulation and supervision of the capital markets, including the Nairobi Stock Exchange. There are 52 listed companies with their combined market capitalization standing at over US$ 10 billion.
The market is divided between;
- Main segment,
- Alternative investment market (for smaller companies) and
- Fixed income segment (for debt issuers).
Corporate bonds have been issued by a number of regional multilateral institutions (East African Development Bank, PTA Bank) and on a secured basis by Kenya ’s two mobile telecoms companies with the third operator awaiting licensing for the Communication commission of Kenya (CCK).
Competition law is supervised by the Monopolies and Prices Commission. Most mergers and acquisitions fall within the scope of the law and require an approval.
NOTE: This summary does not purport to be a comprehensive statement of the law and no reliance may be placed on the contents. For further information and answers to your questions please contact us using the contact details provided.
[ Legal System | Investment Climate | Taxation | Capital Markets ]
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