The Capital Markets Authority (CMA) todays announced the admission of Waanzilishi Capital Limited to the Regulatory Sandbox. The addition of the license investment advisor behind robo-advisory platform Ndovu brings the total number of firms admitted on the sandbox to 12.
Waanzilishi Capital will be live-testing their robo-advisory solution Ndovu, which 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. During its live testing period, Waanzilishi will be required to provide periodic reports to CMA on implementation of its test plans. achievements of its objectives, challenges and risks, and later submit a final report upon expiry of the period.
CMA CEO Wycliffe Shamiah says the admission of the platform will facilitate the adoption of new technologies in the capital markets value chain, in line with the authority’s Strategic Plan 2018-2023 which seeks to facilitate innovation and fintech adoption within the capital markets through the introduction of platforms tools and software that enhances investment decision-making.
“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,” said Shamiah.
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