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Clyde & Co.

Kenya Bolsters AML and CFT Regulation Framework with Anti-Money Laundering and Combating of Terrorism Financing Laws (Amendment) Act

The Anti-Money Laundering and Combating of Terrorism Financing (AML and CFT) Laws (Amendment) ACT, 2023 was assented into law on the 1st of September 2023 and came into force on 15th September 2023. The Act is testament to Kenya’s continued commitment to combating illicit..

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Pinsent Masons

Kenya publishes plans for first nuclear power plant

A recently unveiled strategic plan provides a roadmap for the establishment of Kenya’s first nuclear power plant with aims of bolstering the country’s energy capacity while reducing CO2 emissions, an expert has said. The plan follows the successful introduction of Kenya’s..

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ALN

Guidelines for Employment Termination on Medical Grounds

In Kenya’s dynamic employment landscape, terminating employees on medical grounds poses significant challenges for employers as employers must weigh between productivity and being sensitive in the face of medical incapacity. While the Employment Act, 2007 provides criteri..

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ALN

Analysis of the Key Provisions and Implications of the Affordable Housing Act, 2024

The Affordable Housing Act, 2024 was gazetted on 19 March 2024 after being signed into law by the President on the same date. The Act serves to implement constitutional mandates regarding the right to accessible and adequate housing and sanitation standards while establis..

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Bowmans

Kenya Introduces New Licensing Category to Regulate Private Equity and Venture Capital

The Cabinet Secretary for the National Treasury and Planning recently gazetted the Capital Markets (Alternative Investment Funds) Regulations, 2023, which took effect on 15 December 2023. These new regulations are an off-shoot of the Capital Markets (Collective Investment..

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Kaplan & Stratton

The Import of the Supreme Court Judgment on NSSF Contributions

On 21st February 2024, the Supreme Court delivered its judgment in Petition No. E004 OF 2023 as consolidated with Petition No. E002 OF 2023; KTGA & 2 Others v. The NSSF Board of Trustees & 6 Others. The subject of the dispute concerns the constitutionality of the ..

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ENS

Access to beneficial ownership information in Kenya: private companies

Kenya’s Statute Law (Miscellaneous Amendments) Act, 2019, made amendments to the Companies Act, 2015, by introducing Section 93A which requires every company registered in Kenya to keep a register of its beneficial owners and file a copy with the Registrar of Companies wi..

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Clyde & Co.

Competition Authority of Kenya Imposes USD 6.8M Penalty on Alleged Abuse of Buyer Power

The Competition Authority of Kenya, in a recent decision, has fined a major player in the retail sector approx. USD 6.8M for abuse of buyer power. The freedom of parties to freely negotiate the terms under which they are willing to enter into a contract with each other re..

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Matthew & Partners

Local Representation Mandatory for Foreigners

The Anti-Money Laundering and Combating Terrorism Financing Laws (Amendment) Act of was assented to on 1 September 2023 and came into effect on 15 September 2023. The Amended Act requires foreigners to have either a local director or a company secretary when incorporating..

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