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20 January 2021

Conversion of Title Numbers in Nairobi: Is your property affected?

The Lands Registry in Nairobi has converted some land reference numbers in Nairobi to new parcel numbers. These properties will be issued with new cadastral maps which can be accessed at the Nairobi Lands Registry. The affected properties have been published in this Kenya Gazette and owners of the affected properties who are aggrieved by the conversion have been invited to make their complaints to the Registrar before 1st April 2021. After 1st April 2021, all transactions relating to the affected properties will be carried out in a new register.

15 January 2021

Linking of Company is a pre-requisite to the updating of the...

Linking of a company is a process where the physical records of a company are migrated to the Business Registration Service digital platform. Generally, companies are required to be linked for any changes to be made to the company such as the appointment/removal of a director. The procedure of updating the beneficial ownership register of a company also makes it a requirement for a company to linked before it can be initiated. Thus, a company must first finalize on the linking process before it can proceed to update its beneficial ownership register which needs to be updated by 31st January 2021.

13 January 2021

Beneficial Ownership Register – Is your Company Compliant?

The Registrar of Companies has given all officers and authorized persons of a company upto 31st January 2021 to prepare and submit a register of its beneficial owners or face consequences for non-compliance. Directors of a Company risk being fined upto Kshs. 500,000/= each if they fail to update the company’s beneficial ownership register within the stipulated time. So, who is a beneficial owner? A beneficial owner of a company is a natural person who, directly or indirectly: (1) holds at least 10% of the issued shares in a company;(2) exercises at least 10% of the voting rights in the company;(3) holds a right to appoint or remove a director; or(4) participates in the financial policies of the company even if they do not have full control over them. Any natural person who meets any of the three thresholds above must be included in the beneficial ownership register of the company by 31st January 2021.

16 December 2020

New Sectional Properties Act in Operation

On 11th December 2020, the President signed into law the Sectional Properties Bill 2019. The new Act repeals the Sectional Properties Act of 1987 and will now be the substantive law that governs matters regarding sectional properties including the division of buildings into units to be owned by individual proprietors.

07 December 2020

Immoveable property cannot be auctioned before it is attached

For a person to be able to publicly auction immoveable property (e.g. land), they are required by law to register a prohibitory order against the title of the land first. This is what is known as attachment of property. It is only after attachment that a person can move to court to have the property sold by public auction.

04 December 2020

No charges applicable for the transfer of assets and liabilities between...

Section 9(9) of the Banking Act provides that where one institution transfers its assets and/or liabilities to another institution, no transfer fees, stamp duty, registration fees, licence duty or other charges shall be payable. Institutions, in this case, refers to a bank, financial institution (other than a bank) and a mortgage finance company.

02 December 2020

A contract will be enforced according to the choice of law...

Many contracts contain a provision indicating the law that will govern the contract and the parties. Where a contract indicates that it will be governed by foreign law, that is, laws that are not Kenyan laws, parties will be required to prove their case according to the provisions of the said foreign law and the court will determine liability, or lack thereof, only on the basis of the foreign law. This is despite the fact that the case is being heard in a Kenyan court.

27 November 2020

Not sure whether your project or development requires an EIA license?...

The law requires any person intending to commence or carry out any type of specified projects under the Environmental Management and Co-ordination Act, 1999 to (1) undertake a full environmental impact assessment study and (2) submit an environmental impact assessment study report to NEMA, in order to be licensed. The projects in respect of which a study is required include local roads and facility access roads, business premises including shops, stores, and urban market sheds, establishment of multi-dwelling housing developments, water supply and distribution infrastructure projects, processing and manufacturing industries, power and infrastructure projects, LPG filling plants, waste disposal and treatment plants or onsite wastewater treatment plants among others.

23 November 2020

To whom does the Data Protection Act, 2019 apply to?

Section 4 of the Act specifies that the Act applies to the processing of personal data by a data controller or data processor (1) who is established or ordinarily resident in Kenya and processes personal data while in Kenya or one (2) who is not established or ordinarily resident in Kenya, but processes personal data of data subjects located in Kenya.

18 November 2020

The Value Added Tax (Digital Marketplace Supply) Regulations, 2020

These Regulations have now been gazetted through Legal Notice No. 190 of 2020. Among other issues, the Regulations require non-residents to account for the VAT made on taxable supplies made on a digital market place. The Regulations also specify the scope of digital services that are subject to VAT, the registration requirements for foreign businesses providing digital services and instances for appointment of a tax representative. Importantly, any non-resident offering digital services in Kenya is required to register within six months from the date of publication of the Regulations.

16 November 2020

Consent to the processing of personal data by companies

Obtaining the consent of the data subject before collecting, recording, organizing, structuring, storing, adapting, altering, disclosing or disseminating personal data is underscored under the Data Protection Act, 2019. Although there is no prescribed form of consent under the Act, the law requires that any consent to the processing of personal data must be express, unequivocal, free, specific and informed. Notably, it is the data processor or controller who has the responsibility of proving that the data subject consented to the processing of their personal data in the event of a dispute.

13 November 2020

Data Protection Act

The maximum amount of the penalty that may be imposed on an individual for infringement of the Act may is Kenya Shillings Five Million (Kshs. 5,000,0000/=). In the case of an undertaking, the maximum amount is Kshs. 5,000,000/= or one per centum (1%) of its annual turnover of the preceding financial year, whichever is lower.

30 October 2020

23 laws declared unconstitutional by the High Court

On 29th October 2020, the High Court of Kenya at Nairobi declared 23 laws, including the Finance Act 2018 and the Insurance (Amendment) Act 2019, passed by the National Assembly unconstitutional. The Constitution requires the Senate to be involved in discussions of bills concerning counties before they are passed into law, which was not done in the case of the 23 laws. However, the court suspended the orders nullifying the laws for a period of 9 months from the date of the judgment within which the National Assembly is required to regularize the laws. Should they fail to do so, the laws shall stand nullified.

30 October 2020

Statutory Management: Effect on the corporate structure of the company

Can Directors of a company institute a suit even when the company is under administration? The Court of Appeal in Odera Obar & Co. Advocates v Charter House Bank Limited [2018] eKLR held that even in the case where a company is under statutory management, the corporate structure of the company remains intact until it is wound up/liquidated. This means that directors have the power to institute a suit on behalf of the company despite the company being under statutory management.

30 October 2020

Roll out of the Companies (Beneficial Ownership Information) Online System ...

Effective October 13, the Government rolled out an automated system for notification of details of beneficial owners of companies. In addition, the company registration portal has been updated to require a person incorporating a new company to provide among other details, the company’s total ownership, the direct ownership details, the voting rights by each shareholder expressed as a percentage of the company’s total voting rights, the type of control/influence a particular shareholder would have in the company and the type of right that the particular shareholder may have to appoint/remove directors

30 October 2020

CAK Publishes Guidelines on Consumer Protection

The Kenya Information and Communications (Consumer Protection) Regulations, 2010 provide for various rights of consumers of ICT services. These include (1) the right to be charged only for the products and services they subscribe to, (2) the right to personal privacy and protection against unauthorized use of personal information and (3) the right to be protected from unfair trade practices by licensees. The Regulations also require licensed service providers to provide easily understood information about its complaint handling processes. Last week, the Communications Authority of Kenya published the draft Guidelines that will assist licensees to comply.

30 October 2020

Proposed Law on Holding of virtual and hybrid meetings by companies...

The Companies (Amendment) Bill, 2020 as well as the Companies (General) (Amendment) Regulations, 2020 seek to allow companies to hold virtual or hybrid meetings. Virtual meetings happen when people conduct meetings regardless of their location, using video, audio, and text, to link up online to share information and data in real-time without being physically located together. Meetings on the other hand are held when a subset of the people attending the meeting are located together in the same place while the other participants join the meeting virtually. The proposed law requires companies opting for the virtual or hybrid meetings to provide clear instructions of accessing and participating in the proceedings of the meeting.

30 October 2020

The Unclaimed Financial Assets Authority may pay out or sell unclaimed...

Under the Unclaimed Financial Assets Act, 2011, where assets other than money are delivered to the Unclaimed Financial Assets Authority, the owner is entitled to receive from the Authority any dividends, interest, or other income realized or accruing on the assets at or before liquidation or conversion of the assets into money. However, in prescribed instances, the Authority may upon issuance of relevant notifications after the receipt of the abandoned assets sell such assets at a public auction

30 October 2020

The Defects Liability Period for new commercial buildings revised from 6...

The Ministry of Transport, Infrastructure, Housing, Urban Development and Public Works published the National Construction Authority (Defects Liability) Regulations, 2020 in April this year. The Regulations, which have received opposition from contractors and lobby groups in the construction industry, aim at conferring protection to developers of commercial properties by regulating the limitations on period within which a contractor may be liable for defects in the building. The Regulations have also introduced a latent defect liability period to cater for concealed structural flaws that may not be detectable during the ordinary patent defects liability period.

30 October 2020

Update on the Companies (Beneficial Ownership Information) regime

The Companies (Beneficial Ownership Information) Regulations, 2020 were published in February this year to operationalize the provisions of the Companies Act on keeping of records regarding a company’s beneficial ownership. While the Government has announced plans to roll out an automated system for notifications to the registry by next month, the company’s obligation to keep records of beneficial owners as well as the consequences of default already exist.

30 October 2020

Navigating the storm of Insolvency: Alternatives for Businesses

Many businesses have experienced and continue to experience reduced turnover, as a result of the ongoing pandemic. This development has hampered many businesses’ ability to service their credit facilities on time, increasing chances of insolvency proceedings being initiated. In an article published in today's issue of the Business Daily, we explore the various options available to businesses with constrained capital flow and advise on how they can remain afloat while at the same time meeting their financial obligations

30 October 2020

Credit guarantee scheme for SMES.

Through a proposed amendment to the Public Finance Management Act, 2012 the government seeks to implement a scheme by which private borrowers who do not have sufficient security shall receive guarantees from the government for their borrowings. This scheme would be available to SMEs that are tax compliant and have valid business permit or trade licence from the county governments. The beneficiaries of the scheme would be required to bind themselves to comply with the laws and any conditions that may be imposed with respect to the guarantee.

30 October 2020

Competition Authority goes paperless

On Tuesday September 1st 2020, the Competition Authority of Kenya launched their automated case management system. The system has been developed to receive online applications for mergers and acquisitions, exemptions, registration of complaints by consumers, registration of complaints relating to restrictive trade practices among others. The Authority has further issued a notification that it will no longer be receiving manual applications for these processes.

30 October 2020

The Land Registration (Electronic Transactions) Regulations, 2020

As part of the Government’s efforts to enhance the ease of doing business, the Ministry of Lands and Physical Planning published the Land Registration (Electronic Transactions) Regulations, 2020 in July. The Regulations provide for among other matters, the establishment of the electronic land registry, the procedure and requirements for registration of users, conduct of official search, as well as the valuation, stamping and registration formalities through the LIMS portal.

30 October 2020

Suppliers of Digital Services will be required to register for VAT...

The proposed Value Added Tax (Digital Marketplace Supply) Regulations, 2020 provide that all suppliers of digital services including e-books, mobile applications, music, online gaming, software, e-tickets and services such as ride hailing apps like Uber shall register for VAT. This requirement also applies to suppliers from foreign countries who, although are non-resident, supply to recipients in Kenya.

30 October 2020

VAT on Insurance Agency and Brokerage Services Suspended

An amendment introduced by the Tax Laws (Amendment) Act, 2020 removed insurance agency and brokerage services from the list of exempt supplies under the Value Added Tax Act. Following a petition filed by the Kenya Insurers Association challenging the amendment, the High Court on 16th July 2020 issued conservatory orders suspending implementation of the amendment pending the hearing of the main petition.

30 October 2020

Policy on 30% local ownership of ICT companies

Through a Gazette Notice published last week, the Government published the National Information Communications and Technology (ICT) Policy Guidelines, 2020. Among other issues addressed in the Policy, is the government’s stated commitment to encourage equity participation in ICT companies. In particular, the policy provides that only companies with at least 30% substantive Kenyan ownership will be licensed to provide ICT services. The Guidelines further provide that licensees will have 3 years to meet the local equity ownership threshold subject to an extension in specified instances.

30 October 2020

Proposed Regulation of Digital Finance

The Central Bank of Kenya (Amendment) Act, 2020 proposes to amend Section 4A of the Central Bank of Kenya Act, 2014 to empower the CBK to regulate and supervise the conduct of (1) providers of digital financial products and services, (2) digital credit providers and digital credit service providers, (3) providers of financial products and services, and (4) financial services.

30 October 2020

3-year Limit for filing of legal claims against KRA

The Kenya Revenue Authority Act was amended by the Finance Act, 2020 to introduce a limitation of action provision to the effect that legal actions against KRA are to be instituted within a period of 3 years from the date of the matter complained of. In the case of a continuous injury, legal action can only be instituted within six months from the cessation of the act. Further, a one-month notice is now required to be served upon the Commissioner- General prior to commencing the proceedings.

30 October 2020

Introduction of the Voluntary Tax Disclosure Program (VDP)

The Finance Act 2020 introduced a Voluntary Tax Disclosure Programme through which a person discloses their tax liabilities so that the Commissioner grants them relief from penalties and interests. The Programme will run for a period of 3 years with effect from 1st January 2021. Depending on the year the disclosure is made, the person will enjoy remission on interest and penalties on the tax liability of 100%, 50% and 25%. Notably, the Bill proposes that the person who makes such disclosure shall not be prosecuted for the liability disclosed and the disclosure shall be confidential.

30 October 2020

CMA to regulate Private Equity and Venture Capital Companies

The recently passed Finance Act 2020 has amended the Capital Markets Act by granting the Authority power to licence, approve and regulate private equity and venture capital companies that have access to public funds.

30 October 2020

Use of Electronic Signatures in Kenya

The Business Laws (Amendment) Act, 2020 (the “Act”), which was signed into law earlier in March amended several statutes with the aim of facilitating the ease of doing business in Kenya. A number of amendments introduced by the Act have now reinforced the use of digital and electronic signatures in legal transactions.

30 October 2020

Occupational Safety and Health return to work Advisory

On Monday this week, the Director of Occupational Safety and Health Services issued an Advisory that requires employers who plan to reopen their workplaces to carry out appropriate occupational safety and health risk assessments prior to reopening. The Advisory is issued to further compliance with the legal provisions requiring occupiers of workplaces to carry out appropriate risk assessments in relation to the safety and health of persons employed. It also requires employees to come up with a COVID-19 Preparedness Policy Statement that address all aspects of COVID-19 readiness. The policy, which shall form part and parcel of the Employer’s Occupational Safety and Health Policy is to address among other issues, arrangements for dealing with suspected and confirmed COVID-19 cases and clear guidelines and specific requirements when sick or ill staff may be absent to attend hospital. It is also to include protocols on client handling and standard operating procedures in light of the Covid 19.

30 October 2020

Court Ruling on General Meetings in the Wake of Covid-19 Restrictions...

The High Court issued orders allowing companies to conduct virtual AGMs if they find it impracticable to conduct physical meetings in the manner required under their Articles of Association and the Companies Act due to the Covid-19 pandemic restrictions. In the case filed by the Kenya Private Sector Alliance Limited, the court extended the avenue for virtual meetings to all companies. The court had earlier in April made orders touching only on listed companies.

30 October 2020

Establishment of the office of a Complaints Reviewer at the Lands...

The Land Registration (Amendment) Bill, 2020 seeks to establish the office of a Complaints Reviewer at the Lands Registry and the Survey of Kenya. The key role of the office shall be to receive and adjudicate on complaints by Kenyans relating to registration and survey of land in an effective and impartial manner.

30 October 2020

VAT on Digital Market Supplies.

The Finance Act, 2019 introduced provisions subjecting income earned or accrued through making of supplies via a digital market place in Kenya to VAT. In a bid to operationalize this, the National Treasury has now published the Draft Value Added Tax (Digital Marketplace Supply) Regulations, 2020 pending implementation of the tax. Notwithstanding the likely pitfalls in implementation, businesses need to ready themselves for the roll out once the regulations come into force.

30 October 2020

Expansion of online land search to other registries

Since the roll-out of the online land services by the Ministry of Lands, land searches on the Ministry’s LIMS portal were only restricted to property registered at the Nairobi Registry. This is expected to change as the Ministry of Lands is currently expanding the roll-out to include searches for properties registered within the central registry as well as the district registries.

30 October 2020

Holding of General Meetings by companies

The Companies Act, 2015 requires all companies, except single member companies to hold members’ meetings annually. The Government restrictions on public gatherings to curb the spread of the Covid-19 pandemic have proved to be a challenge to some companies planning to conduct these meetings. Earlier this week, the Business Registration Service published guidelines on the conduct of hybrid and virtual general meetings. The Guidelines contain the options available for companies and the considerations that they will need to make.

30 October 2020

Limitation of the time within which one may sue KRA ...

The Finance Bill 2020, seeks to amend the Kenya Revenue Authority Act to introduce a limitation of actions provision. The proposed amendment requires that legal proceedings against KRA may only be instituted within a period of 12 months from the date of the complained act, neglect or default

30 October 2020

Introduction of a Voluntary Tax Disclosure Program

A voluntary tax disclosure program is a program through which governments waive penalties and/or interest on unpaid tax liabilities or unfulfilled filing requirements in exchange for the eligible taxpayers voluntarily disclosing certain information with respect to their liability. The programs provide an opportunity for governments to realize more revenues while avoiding costly and contentious audits, litigation and criminal proceedings. The Finance Bill, 2020, seeks to amend the Tax Procedures Act, 2015 to introduce such a program.

30 October 2020

The Finance Bill, 2020

The Finance Bill, 2020 proposes a voluntary tax disclosure programme where a person discloses their tax liabilities in order to be granted relief from penalties and interests. The Commissioner is empowered to grant the relief sought if satisfied with the facts disclosed by the applicant.

30 October 2020

Relief from obligations in Leases over Commercial Properties

Leases on commercial properties bear a special feature in the sense that most property owners do not usually include termination clauses in the lease documents, to avoid the restrictions under the controlled tenancies regime. Where a lease however has a force majeure clause, one can invoke it to be relieved from their obligations in the event that performance is rendered impossible due to unforeseen circumstances beyond their control.

30 October 2020

Use of Pension Savings for Home Purchase now allowed

Through an amendment introduced by the Tax Laws (Amendment) Act, 2020, members of retirement schemes have now been allowed to access a portion of their benefits for purchase of residential houses. Previously, the law allowed members to use part of their benefits only for securing mortgage loans. In particular, it permitted members to assign 60% of their accrued benefits to their schemes in exchange for the scheme furnishing guarantees to prescribed institutions financing the purchase. The relevant Regulations specifying the requirements and procedures that one would need to follow in order to access the benefits for house purchase have been published, with public participation ending today.

30 October 2020

Proposed Regulation of private equity and venture capital funds

Through a proposed amendment to the Capital Markets Act, the Finance Bill, 2020 seeks to empower CMA to license, approve and regulate private equity and venture capital companies that have access to public funds. Currently, a venture capital company may operate without CMA approval save that they may voluntarily be registered under the Capital Markets (Registered Venture Capital Companies) Regulations in 2007.

30 October 2020

Commencement of the Tax Laws (Amendment) Act, 2020

The Tax Laws (Amendment) Bill, 2020 was signed into law on Saturday 25th April 2020. The law aims at cushioning the public against the financial effects of Covid-19 pandemic. Wondering when provisions of the Act shall come into force? Section 1 of the Act provides that save for an amendment to section 5(2) of the Value Added Tax Act, 2013, all other provisions of the Act, including on individual rates of tax for various income bands, came into force on the date of assent, which was on Saturday.

30 October 2020

Pandemic Response and Management Bill, 2020

Where a pandemic negatively impacts a borrower’s ability to meet contractual obligations, the borrower and the financial institution will be required to re-negotiate and agree on repayment modalities. In addition, except as otherwise allowed, a party may not commence execution or enforce a security or terminate a lease over immovable property due to non-payment of rent. Lastly, where a pandemic has affected the financial capacity of a tenant to meet their obligations, parties may agree on how the tenant shall meet their obligation at the end of the pandemic.

30 October 2020

Covid-19 and Obligations under the Lease for Office Space

Do parties to a lease for office space have relief in light of Covid – 19? Find out more about the rights, obligations and options for parties to a lease in the event of a pandemic, by writing to us.

30 October 2020

Covid 19 and Compliance with Statutory Requirements

Is your business relieved from statutory obligations and filings on account of the Covid – 19 pandemic? No. Except where a regulator or relevant government body has issued a communication granting relief or extending the period for compliance, your business is still required to comply with its statutory obligations within the specified timelines.

30 October 2020

Navigating the Covid- 19 situation without exposing the business to legal...

Are you considering remote-working, compulsory leave, pay-cuts, termination, redundancy and such measures for your employees during this Covid- 19 situation? Are you contemplating being relieved from other existing contracts in light of the pandemic?

30 October 2020

VAT on Digital Market Supplies

VAT on Digital Market Supplies. The Finance Act, 2019 introduced provisions subjecting income earned or accrued through making of supplies via a digital market place in Kenya to VAT. In a bid to operationalize this, the National Treasury has now published the Draft Value Added Tax (Digital Marketplace Supply) Regulations, 2020 pending implementation of the tax. Notwithstanding the likely pitfalls in implementation, businesses need to ready themselves for the roll out once the regulations come into force.

21 February 2020

Payment of capital gains tax in forced sale transactions.

On January 24, 2020, the Court of Appeal upheld a judgement of the High Court of Kenya affirming that a chargee is not obligated to pay Capital Gains Tax (CGT) in exercising its statutory power of sale. (21st Feb 2020)

14 February 2020

The Competition (Amendment) Act, 2019

Outlaws the abuse of buyer power by companies and individuals? To find out what conduct amounts to abuse of buyer power. (14th Feb 2020)

07 February 2020

Management Companies.

Ever wondered why developers opt to incorporate management companies in developments? Check out our publication on Management Companies in Residential Properties in Kenya. (7th Feb 2020)

06 February 2020

The Data Protection Act, 2019

Wondering what Data Protection Principles should guide your handling of data? The Data Protection Act, 2019 requires data to be (1) Processed in accordance with the right to privacy of the data subject, (2) processed lawfully, fairly and in a transparent manner, (3) collected for explicit, specified and legitimate purposes.

31 January 2020

Buying and selling online?

The Finance Act 2019 has expanded the definition of taxable income to include income accruing through a digital marketplace. The National Treasury is expected to come up with regulations to operationalize the same. Stay in touch with us for updates on this. (31st January 2020)

24 January 2020

The Data Protection Act

Requires the collection of data to be done from an individual and not through third parties. Find out more about this and circumstances under which exceptions are allowed. (24th Jan 2020)

17 January 2020

The Data Protection Act, 2019

Gives one the right to be informed of the use to which their personal data is to be put and to correction and deletion of false or misleading data about them. What other rights do the owners of the data have under this law? Find out more by contacting us. (17th Jan 2020)

10 January 2020

Data Protection Principles

Wondering what Data Protection principles should guide your handling of data? The Data Protection Act, 2019 requires data to be (1) processed in accordance with the right to privacy of the data subject, (2) processed lawfully, fairly and in a transparent manner, (3) collected for explicit, specified and legitimate purposes. For formal advice on other principles, get in touch with us. (10th Jan 2020)

13 December 2019

The Data Protection Act, 2019

Is the Data Protection Act, 2019 limited to entities established in Kenya? Well, the Act primarily applies to entities established or resident in Kenya. However, it also applies to entities established outside Kenya or which are non-resident, but which process personal data of persons located in Kenya. Now you know! (13th Dec 2019)

06 December 2019

The Data Protection Act, 2019

The Data Protection Act, 2019 outlaws the use of personal data for commercial purposes, unless the data subject consents to it or the use is permitted under law. Find out more about restrictions imposed on use of personal data for commercial use, by contacting us. (6th Dec 2019)

29 November 2019

Good News for REITS Investors

Investee companies of real estate investment trusts are now exempt from corporation tax. This has been effected through amendments introduced to the Income Tax Act by the Finance Act 2019. (29th Nov 2019)

01 October 2019

THE FINANCE BILL, 2019- PROPOSED CHANGES ON CAPITAL GAINS TAX

WE wish to update you on two changes proposed through the Finance Bill, 2019, relating to the above. The Bill proposes to increase the rate of Capital Gains Tax (CGT) from 5% to 12.5% It is proposed that when calculating the capital gains tax payable, no gain shall be included in the computation of income in the case of a transfer of property that is necessitated by a transaction involving reconstructing of corporate entity. This change will apply in transfers in transfers made (a) in order to comply with a regulatory requirement or directive (b) in the course of compulsory acquisition by the government (c) as a result of an internal restructuring within a group which does not involve transfer of property to a third party and (d) in public interest The above changes shall come into force on October 1, 2019 if passed into law.

Doing Business in Kenya

Doing business in Kenya requires consideration of and compliance with various local laws. Our publication "Doing Business in Kenya" covers many of the applicable local laws spanning from business set up to licensing, tax, labour laws, capital markets and dispute resolution. Below are summaries of the various chapters that the book covers.

Chapter Summary - Capital Markets
The capital markets industry is governed by the Capital Markets Act (and the regulations thereunder). The Act specifically establishes the Capital Markets Authority (CMA) which is responsible for regulation, promotion, and development of the capital markets in Kenya. CMA licenses investment banks,...

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Chapter Summary - Insurance
The insurance industry in Kenya is governed by the Insurance Act, Cap 470 Laws of Kenya. The Insurance Regulatory Authority (IRA) is the overall regulator of the industry whose main function is to supervise and control of insurance and reinsurance business in Kenya. The industry is also governed by...

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Chapter Summary – Privatization and Liberalization
Privatization Privatization refers to transactions that result in a transfer of the assets of a public entity (other than to a public entity) including the shares in a state corporation but excluding sale of new shares or any balance sheet reorganization which leads to dilution of shares held by a...

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Chapter Summary – Export and Import
EXPORT LICENSING IN KENYA In a bid to streamline export procedure in Kenya, the Licensing Laws (Repeals and Amendment) Act 2006 was enacted. The Act abolished previous licenses requirements e.g. general export licenses that were found to discourage business in Kenya. Notably, the government still...

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