The Capital Markets Authority (CMA) has admitted Waanzilishi Capital Limited, an investment adviser to its Regulatory Sandbox.
This brings the total number of companies admitted to the sandbox to 12.
This is in line with the authority’s mandate to deepen and develop the capital markets industry. Waanzilishi Capital Limited will test its Robo-advisory solution Ndovu innovation in accordance with the requirements of the Capital Markets Regulatory Sandbox Policy Guidance Notes (PGN).
Ndovu, a micro-investment platform provides automated financial planning through leveraging clientele data on financial situations and future goals to offer investment advice and automatically invest the client’s assets.
“The admission of Waanzilishi Capital Limited to the Regulatory Sandbox will facilitate the adoption and implementation of new technologies in the capital markets value chain,” CMA CEO Wycliffe Shamiah said.
The Regulatory Sandbox became operational in March 2019.
Fintech firms and innovators who are accepted, during the 12-month period, deploy and conduct live tests of their innovative products, solutions and services.