The President of Kenya, through a public address on 25th March 2020 announced several income tax and Value Added Tax (VAT) interventions that are aimed at cushioning Kenyans from the crippling effects of the COVID-19 pandemic.
The banking and financial service industries in Kenya are well developed and have enjoyed exponential growth alongside the country’s booming economy.
According to the World Bank, Kenya’s financial sector is the third largest in sub-Saharan Africa, making a significant contribution to economic growth and job creation. The government’s Vision 2030 identifies access to finance as critical to enhancing the prospects for growth, regional competitiveness and shared prosperity.
Our lawyers advise some of the largest financial services companies and institutions on both their day-to-day operations and wider strategic objectives. We help our clients contend with legal issues in banking, including restructurings and regulatory demands.
Our clients include: asset managers, capital markets and their participants, investment banks, national regulators, private banks, private equity firms, professional services organizations engaged principally in financial services and retail banks. In addition, we regularly work with retail intermediaries on the legal issues involved in the selling of financial services to consumers.
Experience has included advising:
- OPIC jointly with DLA Piper in connection with facilities to be granted to Acorn Holdings Limited, which is a leading real estate developer in Kenya for financing 10 mixed-use development projects
- Stanbic Bank Kenya Limited in a transaction involving real estate financing
- A top-tier commercial bank in Kenya in the financing of a used aircraft, which required a high degree of due diligence over the aircraft and security documentation proceedings
- East African Breweries Limited as Kenyan counsel advising the borrower as to Kenyan law facilities in connection with the financing of the construction of its new brewery in Kisumu
- Advising Radiant Energy Limited on the financing of two 40 MW solar power projects
- Advising CDC Group Plc, the lenders, on the financing of a 40 MW solar project in Malindi
- Ranked Tier 1 in Finance & Corporate (IFLR1000 2020)
- Ranked Band 1 in Banking & Finance (Chambers & Partners 2019)
- Ranked Tier 1 in Banking & Finance (The Legal 500 2019)
- Ranked Tier 1 in Finance & Corporate (IFLR1000 2019)
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
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."
Leveraging our extensive global experience in transfer pricing practices around the world, we are delighted to invite you to our first ever Africa Transfer Pricing Conference taking place in Nairobi, Kenya.
The Finance Act, 2018 was assented to by the President on 21st September, 2018. The Act introduces various taxation measures in support of the Big Four Agenda which is government’s main focus for the fiscal year 2018/2019.