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Kenya shelves ownership clause for foreign firms (Nairobi)

Hi everyone,
There are the news from Daily Nation:
Attorney-General Githu Muigai has appointed June 15, Protected content the date to enforce in full the Companies Act, Investors who fail to comply with the fresh ownership rules will be slapped with a fine of Sh5 million.

Business Daily:
Kenya has beaten a swift retreat from a new law that makes it compulsory for foreign investors seeking investment to surrender 30 per cent shareholding in their businesses to locals or risk paying a fine of Sh5 million ($48,171).

But from Sheria House, the registration are still as before that foreigner could register company Protected content ownership, are they going to face a fine?

Who knows the details?


Nairobi Forum