Highlights of the Finance Act, 2018

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September 25, 2018

Introduction On 21st September 2018, the President of Kenya assented to the Finance Act, No. 10 of 2018 after a lengthy legislative process. This was preceded by the President initially exercising his powers under Article 115(1)(b) of the Constitution of Kenya, 2010 to reject an earlier version that had been approved by the National Assembly. …

Central Bank of Kenya proposes Banking Sector Charter

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August 10, 2018

On 6th August 2018, the Central Bank of Kenya (CBK) invited public comments on the proposed Kenya Banking Sector Charter (the Charter). The Charter is one of multiple regulatory responses to improve Kenya’s credit market as well as consumer protection and competition within the banking sector. This is in addition to the proposed repeal of …

Annulment of ERC regulations

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August 10, 2018

Owners of large residential and commercial buildings who have not installed solar water heaters have been spared possible imprisonment or fines of Kenya Shillings 1 million after Parliament annulled the Energy (Solar Water Heating) Regulations 2012 (Regulations) effected by the Energy Regulatory Commission (the Commission). The Committee on Delegated Legislation recommended to the National Assembly …

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