Mapping Etica's Four-Fund Ledger

Four unit trust funds — Money Market, Fixed Income, Shariah, and Wealth — sit behind Etica Capital's app, each regulated by Kenya's Capital Markets Authority. The app stores per-client fund balances denominated in KES and USD, NAV-priced unit counts, a full transaction ledger covering deposits, withdrawals, inter-fund transfers, and utility payments, plus downloadable PDF statements. Per its Play Store listing, the minimum investment is KES 100 for retail funds. The Wealth Fund starts at KES 1M with 6-, 9-, or 12-month lock-in options.

An integration pulls these records out through authorized protocol analysis of the app's authenticated session, under the client's own consent as required by Kenya's Data Protection Act 2019. That is the shape of the build.

What the Etica App Stores Per Client

Protocol Sketch: Querying Fund Positions

The snippet below is illustrative — exact endpoints and field names are confirmed during the build when we map the app's traffic.

# illustrative — paths confirmed during the build
import requests

BASE = "https://app.eticacap.com"  # actual host mapped via protocol analysis

def get_fund_positions(token, client_id):
    r = requests.get(
        f"{BASE}/api/clients/{client_id}/positions",
        headers={"Authorization": f"Bearer {token}"},
        timeout=15,
    )
    r.raise_for_status()
    for p in r.json()["positions"]:
        yield {
            "fund": p["fund_name"],        # e.g. "Etica Money Market Fund - KES"
            "units": float(p["units_held"]),
            "nav": float(p["nav_per_unit"]),
            "value_kes": float(p["current_value"]),
            "currency": p["currency"],      # "KES" or "USD"
            "lock_in_expiry": p.get("lock_in_expiry"),  # Wealth Fund only
        }

The auth lifecycle — login, bearer-token issuance, refresh — is mapped as part of the protocol report. Etica's session model, as the app describes it, follows standard OAuth-style bearer tokens, so the resulting code handles token expiry and silent refresh without manual intervention.

Routes to Etica's Fund Records

Authorized interface integration

We capture the app's HTTPS traffic during a consented session, map the authentication lifecycle, and replicate it programmatically. This reaches every data surface the app exposes: fund positions, transactions, statements, profile fields. Access is arranged with the client during onboarding; the build runs against a consenting account. The session model is standard bearer-token auth, which keeps the effort moderate and the resulting code maintainable.

Credential-based access under consent

The client provides their Etica login credentials under an NDA and a signed consent agreement. We authenticate on their behalf and extract the same data. Faster to set up. Same data coverage.

Native PDF export

Etica lets users download statements directly from the app. Useful for compliance archival, but limited to statement data and not machine-readable without PDF parsing. Narrower scope than the protocol route.

For most Etica builds we would run the protocol-analysis route. It covers every surface, produces a machine-readable schema, and keeps the client's credentials out of the pipeline. Credential-based access works when speed outweighs architecture concerns. PDF export covers archival needs.

Kenya's CMA and Data Protection Framework

Etica Capital is licensed by the Capital Markets Authority under the Capital Markets Act (Cap. 485A), which governs collective investment schemes in Kenya. The CMA's oversight means the fund data we extract — balances, NAVs, transactions — is produced under a regulated reporting framework, and the data itself carries the disclosure standards that regime imposes.

Data protection falls under the Kenya Data Protection Act 2019 (Act No. 24 of 2019), enforced by the Office of the Data Protection Commissioner. Consent must be freely given, specific, informed, and unambiguous per the Act. The burden of proof sits on the data controller. Cross-border transfer of personal data requires adequate safeguards or explicit consent from the data subject.

Kenya does not yet operate a formal open-banking or open-finance regime comparable to PSD2 or the UK's Open Banking Standard, though FSD Kenya has been working toward one since the Competition Authority's 2017 market inquiry recommended better consumer access to financial data. The integration therefore runs on the client's own consent and the protocol-analysis route, not a regulated data-sharing rail. We scope consent records, revocation support, and data-minimization controls into every Etica build as standard practice.

Three Integration Scenarios

Portfolio aggregation. A Kenyan fintech building a multi-provider wealth dashboard pulls Etica positions alongside Hisa and Ndovu holdings. The integration delivers per-fund unit counts and current KES valuations on a daily sync cycle, normalized to a common schema.

Tax-season statement archive. An accounting firm extracts twelve months of Etica transaction records for multiple clients, producing reconciliation-ready exports without manual PDF downloads from each account. Transaction categorization (deposit, withdrawal, inter-fund transfer, utility payment) is preserved in the export.

Shariah compliance verification. A compliance officer at an Islamic finance body needs to confirm that a client's Shariah Fund positions are separated from conventional holdings. Typed fund-category fields in the extracted data automate this check, flagging mixed-fund portfolios for review.

Build Output for an Etica Integration

The delivered package is specific to Etica's fund architecture:

• OpenAPI specification covering fund positions, transaction history, statements, and client profile endpoints as mapped from the app.
• Protocol and auth-flow report documenting the bearer-token lifecycle: login, token issuance, refresh, and session expiry as observed in Etica's traffic.
• Runnable source code (Python or Node.js) implementing position query, transaction export, statement retrieval, and login/token refresh.
• Automated test suite validating each endpoint against Etica's live response schema, with assertions on fund-type fields, NAV precision, lock-in metadata, and currency denomination.
• Interface documentation mapping each app screen to its underlying data call — what the portfolio screen fetches, what the transaction tab queries, how the statement download triggers.
• Consent-record module logging scope, purpose, and timestamp per consent grant, with revocation support, per the DPA 2019.

Engineering Notes for Etica's Fund Architecture

We map the per-fund NAV calculation schedule — the Money Market Fund reprices daily while the Wealth Fund follows a different cadence — so that position values in the extracted data match what the client sees at any given time. A naive sync that ignores the repricing window will show stale NAVs for some funds while others are current, which breaks portfolio aggregation dashboards.

The Shariah Fund operates under a mudarabah (profit-sharing) structure rather than interest-based yields. Its return fields use different labels and calculation logic in the backend. We normalize these into the shared schema but preserve the original field names in a metadata layer, so a downstream consumer can distinguish conventional yield from Shariah profit distribution without guessing at the semantics.

Wealth Fund positions with active lock-ins carry an expiry timestamp. We surface this as a typed field and add a computed is_redeemable boolean, preventing downstream systems from attempting withdrawals on locked units. When a lock-in expires, the position flips to redeemable on the next sync cycle automatically.

Etica's App Screens

Other Kenyan CIS Apps Worth Mapping

Etica sits in a growing category of Kenyan mobile investment platforms. An integrator building a multi-provider view would want to map several of these alongside it:

Hisa — the largest Kenyan retail investment app by user count, per industry reviews, offering access to US stocks and ETFs. An integration would pull trade history, portfolio valuations, and dividend records.

Ndovu — a hybrid platform combining local and international markets. Its data includes fund allocations, goal-based savings progress, and performance metrics across both Kenyan and global instruments.

Mali — focused on the Nairobi Securities Exchange. Holds equity trade records, settlement data, and dividend schedules for listed Kenyan companies.

Cashlet — aggregates multiple Kenyan money market funds in one interface. Integration would extract per-fund balance snapshots and lock schedules.

Cytonn — operates its own money market and real estate investment funds. Data surfaces include unit balances, accrued interest, and maturity dates.

Britam — a major Kenyan insurer with unit-linked investment products. Its app holds policy data, fund values, and premium payment records.

Sortika — a goal-based saving and investing platform founded in Nairobi. Data includes savings targets, invested amounts, and withdrawal history.

MansaX — a multi-asset strategy fund under Standard Investment Bank, CMA-certified. Its authenticated portal holds allocation breakdowns and NAV histories across local and international instruments.

Integrator Questions — Etica Specifics

Does the integration cover all four Etica funds, including the Shariah and Wealth tiers?

Yes. The build maps every fund type — Money Market (KES and USD denominations), Fixed Income, Shariah, and Wealth (classes A, B, and C). Each has distinct NAV schedules, yield structures, and redemption rules, so the delivered schema reflects those differences rather than flattening them into one shape.

How are Wealth Fund lock-in positions represented in the extracted data?

Each Wealth Fund position carries a lock-in term (6, 9, or 12 months) and an expiry date. The integration surfaces both as typed fields, so downstream systems can distinguish redeemable from locked units and calculate the earliest withdrawal window.

What consent framework applies to pulling a Kenyan client's fund data?

Kenya's Data Protection Act 2019 requires that the client give informed, specific consent for data extraction. We build a consent-record module into the deliverable — it logs the scope, purpose, and timestamp of each consent grant, and supports revocation. The CMA's regulatory requirements for collective investment schemes are respected throughout.

Is the KES/USD dual-denomination relevant to the data schema?

It is. The Money Market Fund has separate KES and USD variants, and position values, NAVs, and transaction amounts carry a currency field. The integration preserves this distinction so downstream systems handle multi-currency portfolios correctly rather than assuming everything is KES-denominated.

Sources and Provenance

This assessment draws on Etica Capital's product pages, public fund-performance reviews, Kenya's regulatory instruments, and the app's Play Store listing. Key sources consulted:

• Money254 — Etica Money Market Fund review
• FSD Kenya — Towards a shared vision for open finance in Kenya
• Kenya Law — Data Protection Act, No. 24 of 2019
• Etica Capital — Products page

Mapped June 2026 by the OpenBanking Studio integration desk.

Source-code delivery for an Etica integration starts at $300, paid after delivery once the build works to your satisfaction. We also run a pay-per-call hosted API with no upfront fee — pay only for the calls you make. Typical build cycle runs one to two weeks. Tell us what you need from Etica's data.