Google opens up Kenyan market for complex financial products ads

Google opens up Kenyan market for complex financial products ads

Google this month announced an update to its Financial products and services policy, allowing advertisements for Contracts for Difference (CFDs) and rolling spot forex in Kenya.

Strict regulations and certification requirements will apply to advertisers seeking to leverage this opportunity.

Previously banned under Google's advertising policies, CFDs and rolling spot forex are complex financial instruments known for their high risk and potential for significant losses.

To advertise these products in Kenya, advertisers must undergo a certification process by Google. The key requirements include:

  • Licensing: Advertisers must hold a valid license from the Kenyan Capital Markets Authority (CMA).
  • Compliance: All ads and landing pages must adhere to Google's Advertising policies and relevant Kenyan laws concerning complex financial products.
  • Transparency: Ads must clearly communicate the risks associated with CFDs and rolling spot forex.

Google emphasizes that violations of this policy will not result in immediate account suspension. Instead, a 7-day warning will be issued before any such action is taken. This approach aims to ensure compliance while allowing advertisers time to rectify any issues.

The application form for Google's certification program will be available starting February 28th, 2024.

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