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Wealth firm VFS shuts its Nairobi office - 3 Jan 2018 16:58

By: Constant Munda

The Capital Markets Authority (CMA) has given clients of investment and wealth management advisor VFS International Kenya 45 days from December 29 to clear any outstanding issues after the Mauritian-headquartered firm applied to terminate local operations. The regulator says in the latest gazette notice that it has accepted the company’s application for cancellation of licence. “It is notified for general information that the licencee …has notified the Capital Markets Authority of intention to cease operation of the licensed activities and the Authority has accepted the request for revocation of licence,” CMA chief executive Paul Muthaura says in the notice. VFS International, which has been operating in Kenya for more than 10 years, largely provides private wealth management and financial advisory services to corporate and retail investors. Its departure will leave the market will 13 players. “Notice is given to the members of the public to raise any unresolved and outstanding ...
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