After months of wait and speculation, the Capital Markets Authority of Kenya has released the draft sandbox policy to the public for review. The draft policy is available for review at https://www.cma.or.ke.
This Policy Guidance Note is to be used in Kenya as a guide on the operational environment of a Regulatory Sandbox Program and will inform future refinement of a Regulatory Sandbox framework.
The Regulatory Sandbox is a tool for facilitating capital markets innovation in Kenya and helping to advance the Authority’s goal of creating a vibrant and globally competitive financial sector.
The draft note shows the eligibility, application, and acceptance criteria for applicants, the testing plan, recording and reporting requirements, regulatory safeguards, sandbox outputs, and applicable fees.
The Regulatory Sandbox Pilot Program application form has also been made available for anyone looking to participate. Eligible firms may participate in the Regulatory Sandbox if they meet the criteria set in this Policy Guidance Note.