The Capital Markets Authority has approved Safaricom Plc and Airtel Money Kenya Limited to operate as Intermediary Service Platform Providers, a move set to widen digital access to Kenya’s capital markets.
In a statement released on Monday, December 22, 2025, the CMA also confirmed that CC Kenya Securities Limited, trading as Capital.com, has been licensed as a Dealing Online Foreign Exchange Broker.
The new approvals are expected to deepen competition, broaden investor choice, and make investing more accessible to a wider pool of Kenyans through digital platforms.
Stronger Competition in Digital Investing
By granting Safaricom and Airtel Money licences to operate as intermediary platforms, the regulator has opened the door to more competition in the digital investment space. Investors will now have a wider range of platforms to choose from, pushing providers to innovate and improve service delivery.
This could translate into lower transaction fees, more flexible investment products, and better digital tools for tracking and managing portfolios. The move also raises the bar for other financial institutions, nudging them to upgrade their offerings across the capital markets ecosystem.
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With the new licences, both Safaricom and Airtel Money can now distribute regulated capital markets products directly through their digital channels, effectively linking everyday users to formal investment opportunities. The platforms are expected to simplify investing, particularly for first-time participants.
Expansion of Online Forex Trading
The approval of CC Kenya Securities Limited as a dealing online forex broker further strengthens Kenya’s digital investment landscape. Dealing brokers are permitted to act as principals and market makers in online forex trading, including opening client accounts, providing trading platforms, sharing market information, monitoring positions, and issuing daily reports in line with the 2017 regulations.
To date, the CMA has licensed 13 non-dealing online forex brokers, two dealing brokers, and three money managers operating in the country.
Safaricom’s KSh40 Billion Bond Plan
Separately, Safaricom has also received CMA approval to establish a Medium-Term Note programme. In a statement dated November 20, 2025, Company Secretary Linda Mesa Wambani said the regulator approved the programme on November 7, paving the way for the company’s planned KSh40 billion fundraising.
The CMA, led by Chief Executive Wyckliffe Shamiah, has positioned these approvals as part of a broader push to modernise Kenya’s capital markets and expand participation through regulated digital channels.
