Financial technology firms that develop applications aimed at deepening Kenya's capital market will have a chance to undergo a 12-month live testing period. CMA chief executive Paul Muthaura said the testing period known as the regulatory sandbox aims at improving the regulator's grasp of emerging technologies and innovations. Sandbox participants will be required to comply with certain minimum regulatory requirements prescribed by law. Seventy innovators are currently testing different financial technology innovations with the CMA. CMA says the innovators under the regulatory sandbox programme are currently at different implementation stages.

Source: The Star March 26, 2019 12:56 UTC