Kenya is inspiring bolder innovations through its Capital Markets Authority (CMA)’s Regulatory Sandbox Policy regime. The Regulatory Sandbox Policy Guidance Note (Regulatory Sandbox PGN) which was approved in March 2019 is part of CMA’s strategic focus to leverage technology across the capital markets value chain, as espoused in its 2018–2023 Strategic Plan. The latest addition to the scheme — which before now has recorded only about 7 intakes — is Acorn Investment Management Limited. 

The licensed Real Estate Investment Trust (REIT) manager has been admitted to the sandbox on account of its investment platform called ‘Vuka’, which aggregates retail investors into asset-backed financial products such as real estate through a regulated and transparent structure.

According to CMA, Vuka is a cross-over from other real estate platforms, whose value proposition is enabling the public to accumulate wealth and achieve financial freedom.

Read also:Navigating South Africa’s Highly Regulated Investment Environment

Qualified retail investors, such as investment clubs (chamas), saccos, and other medium-to-long-term retail investors, will be targeted by the invention.
Acorn Investment Management Limited (AIML) is an Acorn Holdings Limited wholly-owned subsidiary (AHL).

It is now the REIT Manager for the Nairobi Securities Exchange’s Unquoted Securities Platform-listed Acorn Student Accommodation Development REIT (Acorn D-REIT) and Acorn Student Accommodation Income REIT (Acorn I-REIT).

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer