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The 2023 Privatization Act – Towards Streamlining Privatization

On Monday, 09 October 2023, the President assented to the 2023 Privatization Act. The Act will overhaul the regulatory framework for privatizing public entities established by the 2005 Privatization Act. It represents a notable and hopeful advancement in privatization regulation. It is expected to enhance privatization by simplifying the privatization process and timelines. It is...

Restrictions on related party service providers: Are Pension Schemes missing cost efficiencies?

Introduction The Pension industry in the last decade has undergone many changes. In tandem with those changes, the sector has grown significantly and is currently estimated to be managing assets in excess of Kenya Shilling one trillion. Obviously, such a significant sector is always being scrutinised by policy makers albeit not always with good results....

Employers reminded Constitution requires Substantive Fairness in Termination of Employment

Introduction A recent judgment by the Employment Court has blurred the line between employment disputes and constitutional violations.[1] The aggrieved employee claimed unfair termination and violation of his rights to fair labour practices and fair administrative action under the Constitution. He claimed his employer had disregarded his explanations on the causes of his unsatisfactory performance...

How You Can Turn Your Intellectual Property Into Cash

Introduction The rise of technology is causing a re-think of what can be used as collateral. Capital providers when asking for security are shifting focus from tangible assets to valuable intangible assets. These most commonly take the form of intellectual property rights and particularly copyrights and trademarks. What is intellectual property? Intellectual property refers to...

The Urban Areas and Cities (General) Regulations, 2022

The Cabinet Secretary of Transport, Infrastructure and Urban Development published the Urban Areas and Cites (General) Regulations, 2022 (the “Regulations”) to operationalize the Urban Areas and Cities Act, 2011 (the “Act”). We highlight some of the key provisions below. Accreditation of Business and Neighbourhood Associations The Regulations provide for accreditation of business and neighbourhood associations...

The Capital Markets (Investment-Based Crowdfunding) Regulations, 2022

Introduction The Capital Markets (Investment-Based Crowdfunding) Regulations, 2022 (the “Regulations”) have been gazetted. The Regulations enable start-ups and growing businesses to raise money from individuals or entities to either finance a project or business through crowdfunding platforms. We set out below a summary of the key highlights in the Regulations. Scope of the Regulations While...

Application of the In Duplum Rule in Kenya

The High Court held the in duplum rule in Section 44 of the Banking Act does not apply to non-deposit taking microfinance institutions.[i] The rule limits interest accrual to equal the principal amount outstanding when a loan becomes non-performing. We analyse below the difference between this decision and the one that held in duplum applies...

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