According to the recently concluded population census, approximately 10 million Kenyans live in slums. Only 10% of Kenyans living in urban areas own their homes, while the majority live in informal settlements.
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Public Private Partnerships (“PPPs”) have been hailed as the antidote for the perennial insufficiency of public funds to finance infrastructure projects.
The African continent, with a population exceeding one billion people and an estimated combined economy of USD1.5 trillion, presents huge opportunities for investors, developers and operators across the renewable energy sector.
Access to financial services is a widely acknowledged tool for promoting credit creation and enhancing capital accumulation, and thereby increasing the levels of investment and economic activity. Fintech offers a transformational solution for Africa’s banking sector.
Kenyans have been in a state of panic since the outbreak of the novel coronavirus (COVID-19). 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 coronavirus 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
Private equity is a type of investment class that involves the purchase of interests in private companies. While some investors may opt to purchase shares in publicly-traded companies such as those listed on the Nairobi Securities Exchange, private equity investors instead focus on acquiring controlling stakes in private companies, often referred to as "portfolio companies."
In this time of growing uncertainty, we recognize that many of our clients are experiencing significant business disruption and facing unprecedented challenges as a result of the spread of coronavirus COVID-19. We are carefully monitoring global developments, and adhering to recommendations of the World Health Organization and the Government of Kenya. In response to this, we have put in place business continuity plans to ensure that we can continue to seamlessly provide our services remotely should the need arise.
The Government, through the Cabinet Secretary for the National Treasury and Planning published Legal Notice Number 88 of 2019 dated 13th June, 2019 which amended the Retirement Benefits (Occupational Retirement Benefits Schemes) Regulations, 2000 (the “Regulations”). Regulation 19 (5) (a) (ii) was amended to read as follows: “the scheme rules shall provide that: where a member leaves employment after vesting of his benefits but before attaining the specified early retirement age, he may opt for payment of his own contribution where he is a member of a defined contribution scheme.