March 17, 2016
Kenya’s capital markets regulator has published new regulations requiring stock and fixed-income brokers to report suspicious trades and transactions above $10,000 to a government body set up to fight money-laundering.
Kenya has the most active open capital market in East Africa and has gained broader appeal in Sub-Saharan Africa as other previously popular investment destinations, such as Nigeria and South Africa, have been battered by plunging commodity prices.
Paul Muthaura, the acting chief of the Capital Markets Authority (CMA), told Reuters the move to counter money-laundering is part of efforts to improve corporate governance and turn Nairobi into an international financial centre.