CMA REIT rules: comments due 13 November on draft reforms

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CMA REIT and issuer governance drafts are open for comments until 13 November 2026. The Capital Markets Authority is reviewing the Capital Markets (Real Estate Investment Trusts) (Collective Investment Schemes) Regulations, 2013 and the Code of Corporate Governance Practices for Issuers of Securities to the Public, 2015.

What CMA REIT and governance drafts cover

According to the Authority’s public notice on cma.or.ke, CMA has reviewed (a) the Capital Markets (Real Estate Investment Trusts) (Collective Investment Schemes) Regulations, 2013 and (b) the code of corporate governance practices for issuers of securities to the public 2015. Drafts are posted under Regulatory Framework on the Authority’s website so stakeholders can flag market needs and emerging issues.

Who should send CMA REIT comments

REIT managers, trustees, listed issuers, sponsors and investor associations are the natural respondents. The notice says CMA wants proposals that keep the capital-markets rulebook current. Issuers already preparing board evaluations under the 2015 code should read the draft changes before the window closes. Related market reading: our Quickmart IPO results and Safaricom FY26 coverage.

For readers tracking CMA REIT rules, this consultation is the formal feedback channel — not a final Gazette. A second pass will follow once CMA digests the comments.

Trustees and valuers that work on development and income REITs should check whether the draft CMA REIT text changes disclosure, related-party or asset-eligibility tests they already use. Listed boards updating charters under the 2015 code can map each proposed governance edit against current board charters before emailing comments@cma.or.ke.

Deadline and contacts for CMA REIT feedback

Submit comments by 13 November 2026 to the Chief Executive Officer, Capital Markets Authority, P.O. Box 74800-00200 Nairobi, 3rd Floor, Embankment Plaza, Longonot Road, Upperhill, or email comments@cma.or.ke.

Frequently asked questions

What is the CMA REIT comments deadline?

13 November 2026.

Which instruments are under review?

The 2013 REIT CIS Regulations and the 2015 issuer corporate-governance code.

Where do I email comments?

comments@cma.or.ke, or post to CMA at Embankment Plaza, Upperhill.