Serrari Group

Stanlib Kenya Fund and its Real Estate Investment Trust (REIT) operations are entering a critical phase, with the Capital Markets Authority (CMA) granting stakeholders a 45-day window to address any unresolved issues. This follows Stanlib Kenya’s formal notification to the CMA of its intention to cease licensed activities, a move the Authority has accepted, paving the way for the revocation of its license as per regulatory requirements.

Established in 1998 and owned by Liberty Holdings, Stanlib Kenya has been a key player in Kenya’s investment landscape, offering investment advisory and fund management services licensed by both the Capital Markets Authority and the Retirement Benefits Authority. Wyckliffe Shamia, CEO of the CMA, emphasized the orderly closure process outlined in the Capital Markets Act in a recent gazette notice.

ICEA LION’s acquisition of Stanlib I-REIT in May 2020, valued at over KSh1.5 billion following a November 2019 agreement, marked a significant development amid Stanlib Kenya’s operational transition. The firm’s role as a promoter and REIT manager, under agreements dating back to 2015, highlights its historical significance in the market.

Investors and stakeholders are urged to use the 45-day period effectively to settle any outstanding issues and ensure a smooth transition. For more details and updates, stakeholders can refer to official communications from Stanlib Kenya and the CMA.

photo source: Google

By: Montel Kamau

Serrari Financial Analyst

2nd July, 2024

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