Over the past few years, the world has witnessed increased use of artificial intelligence (AI) in almost every sphere of life. Some of the AI solutions such as ChatGPT by OpenAI have drawn immense public attention and are said to be “revolutionary”. Governments and businesses world-wide are exploring ways of integrating AI into the economy and businesses
If you are employed on a fixed-term contract, prepare to go home on the expiry date unless your employer advises you otherwise. Indeed, the preparation should start from the day you sign the contract. That is the latest, crisp albeit stone-cold advisement from the Court of Appeal.
For in-house lawyers working across Africa the message is clear: you are at the forefront of a revolution.
It is now one year since the implementation of the Finance Act, 2022. Capital Gains Tax (CGT) has since 1 January 2023 been charged at a rate of 15% up from 5%. This may be a timely juncture to assess the overall effect of the increased CGT.
In May 2023, the Senator of Trans Nzoia County, Senator Allan Chesang sponsored the Real Estate Regulation Bill (Bill), which is currently under consideration by Senate. The Bill draws heavily from the Indian Real Estate (Regulation and Development) Act of 2016 (RERA), which regulates India’s real estate and property market. Kenya’s real estate market is estimated by Statista to be worth USD 7.91 Billion is dwarfed in comparison to global giants like India’s USD 265.18 Billion market. While the two countries’ real estate sectors differ significantly in size, they seem to share common concerns: the need for a specialised legal framework to protect real estate consumers.
These distinguished Women Leaders have been commended for their outstanding reputation within their markets, working on complex deals and having risen to hold leadership roles within their firms and practices.
Inflation rates in Kenya have steadily increased impacting the cost of living. One of the sectors affected is the real estate sector where inflation has resulted in increased construction costs, property values, rent and other operational and maintenance costs such as service charge
Many experiences with distressed businesses in Kenya culminate in a lose-lose scenario in which both creditors and business owners register substantial losses. Despite the attempts by the Insolvency Act 2015 to cure such outcomes by introducing novel approaches such as administration and Company Voluntary Arrangements to rescue distressed companies, the intended effect has proved elusive.