Kenya proposes CMA to regulate private equity firms
Kenya's Treasury Cabinet Secretary Ukur Yatani when he arrived at Parliament Buildings on June 11, 2020 to table the country's budget. He proposed the amendment of the CMA Act to subject to Capital Markets Authority regulation private equity firms and venture capitalists that mobilise resources from public funds. PHOTO | RAPHAEL NJOROGE | NMG
Kenya, a popular investment destination for private equity (PE) firms, has proposed measures to make the operations of PE firms and venture capitalists more transparent by bringing them under the scrutiny of the Capital Markets Authority (CMA).
The plan is already causing disquiet among PE firms whose fund raising and choice of companies to invest in is often shrouded in secrecy.
