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...
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...
A recent High Court ruling will have lenders scratching their heads on how to best secure facilities they issue and enforce full repayment. The High Court, in a decision we expect to be challenged, held a lender who had been allowed to purchase the property securing a facility could not pursue guarantors for any shortfall. The...
In 2022, the Employment and Labour Relations Court invalidated the 2013 National Social Security Fund Act for being unconstitutional. You can find our analysis of the judgement here. This decision was appealed to the Court of Appeal which on February 03, 2023 found that: The Labour Court lacked authority to hear the case because the...
We are proud to have contributed to the Chambers ‘Investing In… 2023’ Global Practice Guide. We have been involved in contributing to this guide for the last two years and are honoured to share our unique perspectives of the Kenyan investment landscape under several sub-topics. The Investing In… 2023 guide features 32 jurisdictions. The guide provides the latest...
In January 2023 the Data Commissioner made a landmark determination in a data protection complaint. The decision put into practice the provisions of the 2021 Complaints Regulations which we analysed here. The Commissioner dismissed a data protection claim and provided much needed clarity on enforcement of the 2019 Data Protection Act. We discuss key aspects...
A recent High Court decision[1] barred the withdrawal of pensions for purchasing residential houses. This had been introduced by the Tax Laws (Amendment) Act, 2020 which amended Section 38 (1A) of the Retirement Benefits Act (the RBA Act). These changes were made operational through the Retirement Benefits (Mortgage Loans) (Amendment) Regulations, 2020 (the Regulations). Section...
Introduction Recently, the High Court found the Small Claims Court lacked jurisdiction to listen to rental claims. We analyse the decision in HC Commercial Appeal No. E036 of 2022, Lisa Kristine Christoffersen vs Kavneet Kaur Sehmi T/A The Random Shop. What happened? A landlord appealed against a finding by the Small Claims Court to the...
Introduction In a judgment delivered on July 28, 2022, the Environment and Land Court in Mombasa declared that a developer intending to make changes to an existing development not anticipated in the original plan should have sought the consent of the unit owners. Case Summary The applicant was the owner of three apartments in a...
Introduction For all its achievements humanity is fragile, so it is not uncommon for employees to suffer illness. Some of these ailments may have far reaching consequences. In extreme circumstances, diseases or medical procedures may lead to disability. In such cases, how should an employer deal with an employee who gets a disability in the...
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