AFG Wealth Kenya Limited licensed as an Investment Adviser

The Board of the Capital Markets Authority (CMA) has approved the grant of a license to AFG Wealth Kenya Limited to operate as Investment Adviser in Kenya bringing the number of investment advisers to fifteen.

AFG Wealth Kenya Limtied was granted the license after meeting the minimum requirements as set out under the Capital Markets (Licensing Requirements) (General) Regulations, 2002.

An investment adviser is a person or group licensed under the Capital Markets Act to make investment recommendations or conduct securities analysis in return for a fee whether through direct management of a client’s assets or through written publications.

At the same time, the CMA has approved the grant of a license to SBM Bank Kenya Limited  to operate as an Authorised Depository and an Authorised Securities Dealer.

Credit Bank Limited has been granted a license as an Authorized Depository. This brings the number of Authorised Securities Dealers to three and Authorised Depositories to twenty.

An authorized securities dealer carries out the business of buying, selling, dealing, trading, underwriting or retailing of fixed income securities.

According to the Capital Markets Act, an authorized securities dealer is a person authorized to deal in securities and operate in a specified market segment as may be prescribed by the Authority.