Editorials

Ponzi schemes demand firmer CMA surveillance


Capital Markets Authority (CMA) CEO Wyckliffe Shamiah at a past stakeholders’ meeting. FILE PHOTO | NMG

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Summary

  • Regulators should improve their surveillance role to protect Kenyans from unscrupulous individuals taking advantage of gaps and limited financial literacy to rob the masses.
  • The public should also be sensitised on safe and legal investment options available in the market.
  • Effective public awareness campaigns can reduce the risk of people making rushed decisions with dire financial consequences.

It is disheartening that Kenyans have lost a lot of money by investing in unregulated products that are hawked by unscrupulous individuals.

Kenyans have lost Sh1 billion buying into unregulated investment products marketed by entities promising high returns.

Victims have lost savings and retirement benefits to…

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