CMA Admits Acorn Investments to Regulatory Sandbox for a Year

Acorn Investment Management Limited has been admitted to the Capital Markets Authority’s (CMA) regulatory sandbox for one year.

Qwetu Accommodation Service Center under Construction. PHOTO: Alok Sharma

Acorn Investment Management Limited has been admitted to the Capital Markets Authority’s (CMA) regulatory sandbox for one year.

Acorn Investment Management Limited (AIML) is a wholly-owned subsidiary of Acorn Holdings Limited (AHL).

Acorns’ admission is attributed to the development of its investment platform dubbed ‘Vuka’ which aggregates retail investors into asset-backed financial products such as real estate through a regulated and transparent structure.

It is currently the REIT Manager for Acorn Student Accommodation Development REIT (Acorn D-REIT), and the Acorn Student Accommodation Income REIT (Acorn I-REIT) quoted on the Unquoted Securities Platform of the Nairobi Securities Exchange(NSE).

“The Authority is cognizant of Acorn’s commitment to supporting capital markets development and growth. The innovation further supports Kenya’s Big 4 agenda on affordable housing. We are hopeful of a successful testing and eventual rollout of the innovation to the mass market,” said Wyckliffe Shamiah, CMA Chief Executive Officer.