Capital Markets Authority (Kenya) Certification Licensing Programme

Together with the CISI and Financial Sector Deepening Africa (FSD Africa) the Capital Markets Authority of Kenya has launched international certification standards for practitioners in the capital market sector.

What is the Capital Markets Authority (Kenya) Certification Licensing Programme?

The introduction of a certification programme in Kenya will ensure that practitioners in the capital markets profession have the requisite skills, operate with high standards and apply best practice as Kenya takes its position as an International Financial Centre and as the heart of African capital markets. Key staff in capital market intermediaries need to adopt international certification standards to support the introduction of more diversified products in the market as well as to ensure that engagement with investors is consistent, ethical and transparent. This is aimed at creating a highly skilled talent pool aligned with the Capital Markets Master Plan - the ten-year blue print for the Kenyan capital markets sector - and the ambition of the country to become a regional and International Financial Centre.

Is the Capital Markets Programme right for me?

The Capital Markets Programme is suitable for practitioners advising and/or dealing in securities and/or derivatives in the wholesale sector. 

The qualification is increasingly used as a benchmarking tool by major banks and investment firms to ensure that staff possess practical knowledge which can be immediately applied to business activities.

Key features:

  • Certification standard for capital market practitioners - The qualification serves as an international certification standard certified by the Capital Markets Authority (CMA) of Kenya, for practitioners in the capital markets profession.
  • Africa focused study material – understanding of rules and regulations that apply in the Kenyan capital markets.
  • Progressive study pathway – Kenya Capital Markets Programme is the first step in the CISI’s capital markets qualifications study pathway and offers access to higher-level qualifications.
  • Free CISI Student membership – become associated with a chartered professional body and take advantage of an extensive range of benefits

  Qualification factsheet

Qualification Structure


An exclusive 50% discount will be offered to all students in support of the Capital Markets Master Plan and 2030 Vision for the Kenyan market.

  First sitting Resit 
Registration fee including student membership (one-off payment) £15.00
International Introduction to Securities and Investment (Kenya) including PDF of study material, elearning and one exam sitting £99.00 £59.00
Regulations and Market Practice (Kenya) £99.00 £59.00



Exam Details

Pass Mark / Pass Rate

The current pass rate for this exam is and the pass mark is . The exam grades are as follows:

Regulated Qualifications Framework

credits on the Regulated Qualifications Framework are awarded upon successfully passing this exam

Exam Availability

Policies & Procedures

Please ensure you have familiarised yourself with our examination policies & procedures before booking your exam.

Study support


Upon registration for the exam candidates will receive the most up-to-date learning manual and access to the e-learning and practice questions.

Find out about MyStudy

Accredited Training Partners

You can choose to complete formal training for our exams with a CISI Accredited Training Partner (ATP).

Find an ATP near you

Post Qualification Opportunities

Progressive Qualifications

Upon completion of Step 1 and Step 2 of the Kenya Capital Markets Programme, you may like to complete our internationally recognised Capital Markets Programme, by choosing a technical module from Global Securities, Derivatives and Global Financial Derivatives.

More information


Obtaining the Capital Markets Programme qualification entitles you to join the Institute at Associate level. As a member of the Institute, you will enjoy the recognition of being a professional in a world of increasing competition. The extensive continuing professional development (CPD) opportunities available through the CISI’s suite of membership benefits ensures financial services practitioners can maintain competence and meet the requirements of firms and the regulator.

Further information

Exams must be booked through the CISI or a local training provider. Exams will be taken at the Prometric testing center which is located in the  ICEA Building, Kenyatta Avenue.

For more information please see
Circular: CMA/MRT/001/2015
CMA Certification FAQs

For exemptions, please contact the CMA or if you have any further questions please contact:
Helena Green Chartered MCSI - Strategic Projects Manager -