Sycamore Capital Limited's Cashlet App has received approval from the Capital Markets Authority (CMA) to connect retail investors with licensed fund managers for investments in Collective Investment Schemes (CIS) in Kenya.

• The approval follows the app's admission into the CMA Sandbox on July 9, 2021, where it was tested as a fully digital platform for aggregating retail investors and enabling seamless investments into multiple unit trusts.
• The CMA also licensed Jipay Payment Solutions Limited as an Intermediary Service Platform Provider (ISPP), further strengthening digital innovation and financial inclusion in Kenya's capital markets.
• The CMA stated these approvals are part of its strategy to support homegrown fintech innovations that expand participation in capital markets, enhance investor protection, and advance Kenya's digital financial inclusion agenda.