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Name of admitted firm |
Date of admission |
Innovation tested |
Test outcome |
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Exited Firms |
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1. Innova |
July 15, 2019 |
Analytics software solution that automatically spool data from market participants enabling various analytical functions for the benefit of clients and regulators. |
Test successful, now in the mass market. Some of the features of the innovation that were successfully tested include automatic generation of reports from licensees and remote access of the reports by regulators. Analytical models and regulatory reporting tools developed and now in use. |
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2. Pezesha |
July 16, 2019 |
Internet-based crowdfunding platform on which investors provide loan facilities structured as loan notes to SMEs |
Successful, now in the mass market. |
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3. Genghis |
July 16, 2019 |
Mobile platform for the public to invest in unit trusts funds through Safaricom Mpesa. |
Successful, with challenges on mass roll-out of the product. The funds collected through onboarding clients on to the platform amounted to Kshs. 1.3 billion while exits were Kshs. 1.1 billion. Current Assets Under Management is therefore Kshs. 200 million. |
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4. CDSC |
April 7, 2020 |
Screen-based securities lending and borrowing platform |
Successful, awaiting approval of SLB rules. The screen-based system of SLB was successfully tested |
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Sept 2, 2020 |
Robo-advisory solution that seeks to provide automated, algorithm-driven financial planning services with little to no human intervention. |
Successful, under consideration for exit |
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ONGOING TESTING |
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6. Pyypl |
June 11, 2020 |
Blockchain-based platform for issuing unsecured debentures |
Test ongoing. Key milestones are- Capital requests: 242 Investments made: 228 Value of investments: Kshs 254,761 Successful debentures: 145 Average fees: 10% |
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7. Belrium |
June 11, 2020 |
Blockchain-based know your customer (KYC) solution. |
No progress. |
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8. Moneto |
May 26, 2021 |
Investments application aimed at aggregating and connecting retail investors to collective investment schemes (CIS) through an App. |
Test ongoing. Key outcomes are- Total funds deposited Kshs 4.3M No. of deposits: 3,750 Funds withdrawn: Kshs 2.3M No. of withdrawals: 325 No. of users: 1,488
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9. Koa |
May 26, 2021 |
Investments application aimed at aggregating and connecting retail investors to CISs through an App. |
Ongoing |
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10. Sycamore |
July 9, 2021 |
A fully digital online investment application aimed at enabling Kenyans invest in multiple unit trusts by aggregating retail investors to collectively invest in approved CISs. |
Acquired a new partner (ICEA Lion) and are still in the progress of integration. |
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11. Acorn |
Aug 20, 2021 |
Investment aggregation platform (Vuka) to facilitate retail investment in the Acorn I-REIT through a regulated and transparent structure. |
Ongoing with good progress. |
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12. Waanzilishi |
Dec 17, 2021 |
Robo-advisory solution with an element of discretionary portfolio management which will provide automated, algorithm-driven financial planning services with little to no human intervention. |
Ongoing. During the test, the innovation will seek to provide a portfolio management which will set out automated, algorithm-driven financial planning services with little to no human intervention. |