The Capital Markets Authority has admitted KOA Save Africa Ltd and Moneto Ventures Ltd to the Regulatory Sandbox. The two firms will test their innovations in a live capital market environment, in compliance with the CMA Regulatory Sandbox Policy Guidance Notes @CMAKenya 
The move is in line with the commitment to develop and deepen the capital markets by facilitating the deployment of financial technology (fintech).
KOA Save Africa will test KOA App, an innovation that seeks to help retail investors to easily, conveniently, and affordably, save and invest in the capital markets.
The mobile app has the capacity to embed several collective investment schemes focusing on money market funds. KOA App is accessible to iOS and Android mobile users and it will be put to the test for six months.
Moneto Ventures will test its Chumz App, an app also available on iOS and Android mobile devices that uses behavioural psychology techniques to encourage users to save and build a culture of digital savings and investment.
Moneto Ventures seeks to achieve this by ensuring minimum effort between the decision to save and invest, and the actual deposit while helping investors keep track of their progress on specific goals.
Moneto Ventures will test its app in the Regulatory Sandbox for one year.
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