Our guide to the issues likely to impact businesses and the key measures taken by African governments in response to COVID-19.
Kenyans have been in a state of panic since the outbreak of the novel coronavirus. From a projects perspective, contractors have been a particularly worried lot, seeing as the pandemic has affected supply chains and their ability to meet their contractual obligations.
In the wake of the spread of the COVID-19 global pandemic, the real estate and loan markets in Kenya are bound to be affected. On 16 March 2020, H.E. Uhuru Kenyatta, the President of Kenya revealed that three (and now 25) patients had tested positive for the virus culminating in presidential directives towards preventing its spread to the rest of the population
The just ended year 2020 saw Kenya negotiate some high-profile trade agreements with its major trading partners including the United Kingdom and United States of America (USA). While the trade deal with the United Kingdom was recently concluded, negotiations on the Free Trade Agreement with the USA are still ongoing.
Last week’s announcement by the Chief Justice David Maraga that he would be proceeding on terminal leave this week and that he had appointed his beleaguered deputy Philomena Mwilu to hold the reins of power as acting Chief Justice pending the recruitment and appointment of a new Chief Justice pushed the jostling for the coveted position a notch higher. No sooner had the announcement been made than names of possible successors started flooding the media space.
Energy and infrastructure projects have for the longest time attracted the attention of ESG (environmental, social and governance) regulators and watchdogs. More recently however, ESG concepts have gained prominence in almost all other sectors of the global economy as boardrooms all over the world move to integrate ESG principles and metrics in their decision making.
In recent years, the media has been smattered with reports of companies in deep financial distress. Prominent among them are major leaguers such as Nakumatt Holdings, ARM Cement and more recently, Mumias Sugar Company. As observers collectively ponder what went wrong with these companies, market players are keenly watching to see if the provisions of the Insolvency Act, 2015 can help to put the situation right, keeping in mind that there may be many more casualties in the pipeline as a result of the COVID-19 pandemic.