I&M Capital targets regional growth after securing CMA licence

The licence, known as the Intermediary Service Platform Provider (ISPP) licence, allows the investment firm, a wholly owned subsidiary of I&M Bank, to facilitate market transactions and distribute investment products through technology-driven platforms.

The approval comes as regulators seek to deepen capital markets and widen retail investor access through digital financial services.

The CMA has issued more than six licences in the last two quarters to firms seeking to offer digital investment services, including two other fintech firms licensed as ISPPs. Four additional firms have been authorised to provide services ranging from online foreign exchange brokerage to investment advisory.

In its fourth-quarter industry report for the 2025/26 financial year, the regulator said the licences would strengthen investment distribution networks and expand access to regulated financial products.

“By lowering barriers to investment participation, the platforms are expected to broaden investor access, promote financial inclusion and contribute to a more diversified and resilient investor base,” the CMA said.

I&M Capital plans to leverage its parent company's digital infrastructure and customer base to compete in an increasingly crowded investment market.

I&M Bank Group Chief Executive Officer Kihara Maina said last month that the lender's customer numbers had grown by 28 per cent, while its micro, small and medium-sized enterprise segment recorded 41 per cent growth.

“We have been seeing a lot of innovation in the digital space and we have seen that most of the customers that are onboarding are coming through our digital channels,” Maina said.

He added that the bank had achieved 99 per cent service availability.

I&M Capital is entering a market where banks, investment firms and fintech companies offer digital services ranging from micro-savings and stock trading to foreign exchange trading.

The firm expects its existing customer base, product portfolio and digital infrastructure to help it attract younger professionals and emerging investors seeking accessible wealth management services.

Its regional footprint could also support the rollout of investment products in Uganda, Tanzania, Rwanda and Mauritius.

Speaking during the launch of I&M Capital in Uganda last month, Group Chief Executive Officer Silas Ngumi said the firm aimed to make wealth management accessible to a broader segment of investors.

“Wealth management solutions had traditionally been available primarily to high net worth individuals,” Ngumi said.

“We saw an emerging group of young professionals, entrepreneurs, and emerging affluent individuals who are building wealth and increasingly asking important questions about how to grow their wealth. We wanted to make professional wealth management more accessible to this group of investors and that became the foundation of I&M Capital.”