NCBA Group Plc has received regulatory approval from the Capital Markets Authority (CMA) to operate as a corporate trustee, joining two other firms in a move aimed at enhancing investor protection in Kenya’s Collective Investment Schemes (CIS) sector, which has now surpassed Sh400 billion in assets.

NCBA’s entry into trustee services is part of a broader strategy to expand its custody and investment offering.

The bank is expected to play a significant role in the oversight of CIS products such as unit trusts and mutual funds.

According to CMA, “NCBA has been licensed to offer corporate trustee services as part of its broader custody solutions. The bank aims to deepen its investment services offering by incorporating CIS trustee functions into its portfolio.”

With NCBA now officially licensed, the bank is expected to take a central role in deepening trust and professionalism within Kenya’s maturing investment services landscape.

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The other two entities licensed alongside NCBA are MTC Trust & Corporate Services Limited and Standard Chartered Bank Kenya.

Both bring a distinct set of strengths to the trustee landscape.

“MTC offers a broad range of fiduciary and trustee services to private entities. The firm also provides security trustee services and manages specialised structures,” CMA noted.

Standard Chartered Bank, already a dominant player in the custody services space since 2010, has now added trustee services to its portfolio.

The Authority stated that “the bank has been a major player in custody services since 2010 and currently holds the largest market share in that segment.”

The licensing of these three corporate trustees comes at a time of unprecedented growth in the CIS market, driven by a rising number of retail and institutional investors seeking professionally managed and diversified investment vehicles.

Corporate trustees are essential in this ecosystem, ensuring that fund managers act in compliance with both scheme documentation and regulatory requirements, thereby safeguarding the interests of investors.

CMA said the move reflects its ongoing efforts to “strengthen investor protection and support the growth of a robust, transparent capital markets ecosystem in Kenya.”


The entry of these new trustees is expected to reinforce confidence in the market and further streamline the governance of collective investment products.