• Sun. Jun 16th, 2024

Reprieve for Cytonn as Court Wades-in in Fight with CMA

Jul 1, 2021
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Cytonn Investments Management has been granted reprieve by the High Court following the recent unwarranted harassment by the Capital Markets Authority (CMA).

This reprieve follows a hurriedly launched “criminal probe” by the Capital Markets Authority as an attempt on their part to disown their engagement over a long period of time with Cytonn Investments on one of the two funds facing liquidity challenges like all real estate funds in light of Covid-19.

CMA was partisan to creating, naming and approving CHYS as a private offer since 2016.

In a letter Cytonn had hit back at CMA for ‘misleading’ public over the recent reports about CHYF

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“We take note of your June 17th, 2021 press release to the public and recent media statements, which are grossly misleading to both the Kenyan public and relevant policymakers. Given the sensitivities around financial markets, we would have preferred to address these issues confidentially, but now that you have taken them into the public domain, it is only fair that we rebut your statements with documentary evidence so that the public is better informed,” read the report from cytonn

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