[Standard]The capital markets regulator has approved Safaricom’s mobile investment product dubbed Mali. Safaricom Chief Executive Peter Ndegwa last week said the firm was awaiting for approval from the regulators before commercially launching the mobile investment product. According to CMA, several investment products including fintech and mobile investment products in various stages of testing require oversight from multiple regulatory agencies, due to their scale in the financial sector. CMA launched the regulatory sandbox in March 2019 and invited firms to develop and test new solutions. Firms experimenting with blockchain technology and mobile investment products lead the pack.

Source: Standard Digital May 18, 2021 08:26 UTC