Kenya Capital Markets Authority Releases Draft Regulatory Sandbox Guidance Note


The Kenya Capital Markets Authority (CMA) released its draft Regulatory Sandbox Guidance Note which provides a comprehensive framework and application for innovative products and services for release in Kenya.

The objective of the Regulatory Sandbox is intended to cover "innovative capital markets-related products, solutions and services" and not limited to "Fintech" - although the term is defined within the Note but not referenced within the Note. The Eligibility, Application and Acceptance Criteria requires those seeking admission to the sandbox to be registered in Kenya - "or other East African States" which are not explicitly defined in the Note.

The Note also includes testing, records and reporting details, regulatory relief and safeguards information and the expected outputs of a testing period spent in the Regulatory Sandbox.

An Application Form is also included in Annex A within the Regulatory Sandbox Policy Guidance Note.

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