Cititrust’s Asset Management arm secures approval to operate in Kenya

Lagos-based CFS Asset Management Limited, a subsidiary of Cititrust Holdings Plc, has been granted operating license by the Kenyan Government to operate in the East African country as a funds manager.

This was disclosed in a statement issued by the company and seen by Nairametrics on Monday.

According to the company’s Chairman, Michael Monari, the Kenya’s Capital Markets Authority had sent a letter of the regulatory approval.

In the meantime, the CEO of the asset management firm, Mr. Femi Alli, said the management is optimistic of the opportunities presented by the Kenyan market.

He also assured investors in the East African country of “great values and superior returns on their investments” should they rely on CFS Asset Management Ltd to manage their assets.”