June 2024

Our Client based in the United Kingdom (UK) was keen on purchasing gold from the East Africa Market. The Client’s transactions had a contract value of about one hundred and fifty million dollars (USD 150 million) whereby the first phase of the transaction was to be about USD 15 million or thereabouts. We received instructions to conduct due diligence concerning the agents’, and the sellers...

The Cabinet Secretary for Interior and National Administration amended The Kenya Citizenship and Immigration Regulations, 2012, (hereinafter referred to as the “Principal Regulations”) thereby formulating the Kenya Citizenship and Immigration (Amendment) Regulations, 2023. Section 15A of the amended Regulations mandates the Director to create an Electronic Travel Authorization (ETA) system...

Introduction. The proposed Local content bill models Local content legislation from other jurisdictions. Generally, local content legislations aim at persuading investors in the extractives sector, in this case, oil, gas, and mining sectors to develop plans on how local communities will benefit through employment, value addition, technology, and knowledge transfer. Objective of the bill...

The Investment Promotion and Facilitation Bill, 2023 (“Bill”), whose purpose is to make it easier for businesses to invest in the country by simplifying administrative procedures, improving transparency, and reducing bureaucratic procedures. To begin with, the Bill has established the Kenya Investment Corporation (KIC) (“Corporation”), which will replace the Kenya Investment Authority,...

In 2021, via the Finance Act 2021, Kenya adopted the Common Reporting Standard (CRS) through Section 6B of the Tax Procedures Act. This section mandated the government to create specific regulations for implementing the CRS. These Regulations act as a guide for financial institutions (like banks and investment firms) in Kenya. They outline the specific requirements for compliance that these...

Samurai Bond Samurai Bonds are bonds issued on the Japanese capital market in Japanese yen by corporations, supranational organizations, and foreign governments. With the help of this bond, businesses and organizations can raise capital in Japan by tapping into the country’s deep pool of savings and investment. Samurai Bonds serve several purposes including helping issuers diversify...

Kenya’s development of a comprehensive whistleblower protection framework has been a prolonged process, spanning over two decades. This journey began in 2003 with the ratification of the United Nations Convention against Corruption (UNCAC), followed by a further commitment through the signing of the African Union Convention on Preventing and Combatting Corruption in 2007. Both these...

On November 10, 2024, Ong’anya Ombo Advocates LLP shared its recommendations concerning the Fiscal Budget for the Financial Year 2024/2025 to the Ministry of National Treasury & Economic Planning. on March 08, 2024, the Budget Team for the Ministry of National Treasury & Economic Planning invited us to make oral submissions and make clarifications on March 14, 2024, whereby one of our...

Kenya Bureau of Standards (KEBS) issued a draft Information Technology – Artificial Intelligence – Code of Practice for AI Applications (hereinafter referred to as “the Code”) for public comments. The Code outlines recommendations to assist organizations in developing, providing, or utilizing AI systems responsibly in achieving their intended goals. The Code outlines methods...

Introduction The principal object of the Bill is to amend the Competition Act (Cap. 504) (“The Principal Act”). These amends aim to strengthen the Legal Framework governing market dynamics with an emphasis on digital markets, to enhance consumer protection in Kenya. The Bill aims at redefining critical terms, introducing new terms, proposing forward-thought provisions as well as erasing...