Use of cookies on this website
This website uses cookies to give you the best user experience, for analytics, and improvement of functionalities of this website and third party sites. You can learn more about our use of cookies and similar technologies and your choices by reviewing our Cookies Policy. By clicking "I agree" you agree to our use of cookies and similar technologies.
Redirection disclaimer
The item you have requested is not currently available in English and you have been redirected to the next available page. You may use your browser's back button to return to the item you were viewing.
Follow Dentons
Russia, CIS and the Caucasus
View all our locations globally
CanadaClose
Learn more about our Canada capabilities
United StatesClose
Learn more about our United States capabilities
Latin America and the CaribbeanClose
Learn more about our Latin America and the Caribbean capabilities
EuropeClose
Learn more about our Europe capabilities
United KingdomClose
Learn more about our United Kingdom capabilities
Central and Eastern EuropeClose
Learn more about our Central and Eastern Europe capabilities
Russia, CIS and the CaucasusClose
Learn more about our Russia, CIS and the Caucasus capabilities
AfricaClose
Learn more about our Africa capabilities
Middle EastClose
Learn more about our Middle East capabilities
Central AsiaClose
Learn more about our Central Asia capabilities
ChinaClose
Learn more about our China capabilities
Learn more about our ASEAN capabilities
Asia PacificClose
Learn more about our Asia Pacific capabilities
Learn more about our Australia capabilities
Dentons team
Find your Dentons team
At Dentons, we bring together top tier talent found at the intersection of geography, industry knowledge and substantive legal expertise. Start by clicking here
Aviation and Aerospace
Defense and Space
Forest Products and Agribusiness
Infrastructure and PPP
Life Sciences and Health Care
Luxury, Fashion and Beauty
Media, Entertainment and Sports
Aboriginal Law (Canada)
Government Contracts - US
Native American Law and Policy (United States)
Pensions, Benefits and Executive Compensation
Privacy and Cybersecurity
Public Policy and Regulation
Restructuring, Insolvency and Bankruptcy
Securities and Corporate Finance
Trade, WTO and Customs
Trusts, Estates and Wealth Preservation
Venture Technology and Emerging Growth Companies
White Collar and Government Investigations
View all of our practices and industry sectors
Dentons Ranked No. 1 in Midwest Real Estate News "Best of the Best 2018"
For the fifth consecutive year, Dentons' Real Estate practice has been ranked No. 1 on the "Best of the Best" list by Midwest Real Estate News.
Issues and
Issues and opportunities
3D Global Affairs
Anti-Spam Legislation
Blockchain and Distributed Ledger Technology
Cannabis in the United States
Canadian Cannabis Industry
Canadian Pension Funds Investment
Dentons 50
Dentons Online Compliance
Eurozone Hub
Global Anti-Corruption
Global tax guide to doing business in...
Local Government Solutions
NAFTA 2.0 – USMCA
Plan Nord
Smart Cities & Communities Initiative and Think Tank
Senior Managers and Certification Regime
Transformative Technology and Data Strategy
2016 US Presidential Election
US Telephone Consumer Protection Act (TCPA)
Vox Tax
Navigating 2019
With all the changes and announcements in 2018, our Eurozone Hub has collated the following supervisory outlook for 2019 as a non-exhaustive "Playbook" for Banking Union Supervised Institutions and other regulated market participants already based in or otherwise relocating to the EU and/or the Eurozone.
Canada Federal Budget 2019
In the wake of the release of the much-anticipated 2019 Federal Budget, members of Dentons' Tax group, together with a team at Wolters Kluwer, have prepared a Special Report which provides a detailed analysis and concise summary of the changes featured in the Budget.
Blogs and Resources
Guides, Reports and Whitepapers
Global tax guide to doing business in... 2019
Our Global tax guide to doing business in… highlights the complexities of corporate tax systems in 28 countries across Africa, the Americas, Asia Pacific, Australia and Europe.
US Policy Scan 2019
In Policy Scan 2019, Dentons' US Public Policy team's annual analysis of the legislative and political landscape, we take a close look at the issues, questions and conflicts that will dominate the dialogue on Capitol Hill and in the White House over the coming year.
Global Roles
Trainees, students and graduates
Starting your career as a student at Dentons exposes you to a world of experience and opportunities
With 177 locations in 79 countries, Dentons is home to top-tier talent that is found at the intersection of geography, industry knowledge and substantive legal experience. Working with Dentons, you will have the opportunity to learn from the best lawyers in the industry at the largest law firm in the world.
The Legal 500 EMEA 2019 recognizes over 130 Dentons lawyers
The 2019 edition of The Legal 500 Europe, Middle East and Africa has recognized 133 Dentons lawyers, of which 89 have been included in the elite "Leading Lawyers" list, while 44 are listed as "Next Generation Lawyers".
What's different
about Dentons
What's different about Dentons
Introducing Dentons
Driven to find solutions you can use
Polycentric: Leveraging our diversity for your competitive advantage
Connecting you to talented lawyers around the globe
As diverse as you are
An entrepreneurial approach to pro bono
and corporate social responsibility
A legacy of pioneering and innovation
Led by lawyers who listen
Innovating through Nextlaw
Dentons launches Market Insights publication: "Digital Transformation and the Digital Consumer"
Dentons, the world's largest law firm, has launched a new Market Insights publication entitled "Digital Transformation and the Digital Consumer", which examines the legal implications of the online economy.
Dentons ranks across 68 tables securing 109 individual and 43 practice rankings in Chambers USA
Global law firm Dentons earned 109 individual and 43 practice rankings - a 20% increase over last year - in the most recent edition of Chamber USA.
South Africa Newsletter
South Africa Newsletter - March 2019
Public policy updates in Kenya
Regional Capabilities:
Amendment to Law of Contract Act
A proposal has been tabled before Parliament to amend the Kenya Law of Contract Act, which, if passed, will require creditors to first realise the security of debtors before instituting a suit against a guarantor to a loan. This proposal offers added protection to guarantors, and comes amid increased cases of lenders taking over guarantors' property at first instance when a lender defaults on a loan.
Big 4 Agenda with a focus on the affordable housing initiative
The Government of Kenya has announced plans to deliver 500,000 affordable housing units across the 47 counties as part of its Big 4 Agenda. The Big 4 Agenda is the country's strategic plan for the years 2018 to 2022 and focuses on enhancing manufacturing, food security and nutrition, universal health coverage and affordable housing. It is in line with the Third Medium Term Plan (2018 – 2022) towards the country's economic blueprint to achieve middle-income status, Vision 2030.
These plans are driven by the need to address the middle to low-income housing deficit in the country, which is estimated to stand at over 200,000 units annually. The government will engage both foreign and domestic contractors in engineering procurement and construction (EPC) contracts to construct the housing units. It will also seek investment from the private sector to fund this initiative, which will account for an estimated 60 per cent of the total funding of the initiative.
As a further source of funding, the government introduced a National Housing Development Fund in 2018 (the Fund), which requires employers and employees to remit mandatory contributions from employees' salaries to a maximum of KES 5,000 a month. This requirement has been challenged in court and held in abeyance pending the hearing and determination of a court case filed by the Central Organization of Trade Unions. The formation of the Advisory Board to the Fund has also been suspended pending the outcome of separate courtroom proceedings.
Proposal to require details of corporate beneficial ownership
The Attorney General is proposing to introduce a series of regulations that will require companies to provide particulars of their beneficial owners in the company's register of members. The beneficial owners of a company are the natural persons who either own, control or benefit from the transactions of a company.
Once lodged with the Companies Registry in Kenya, this information will be available to the public for inspection, promoting transparency and discouraging the evasion of local shareholding requirements in regulated industries. It will also provide useful identification information to competition regulators and the country's revenue authority.
Amendment to the Capital Markets Authority Act (CMA Act) to incentivise person(s) to provide information on stockbrokers who breach their contractual obligations
The CMA Act has been amended to introduce a provision that provides financial rewards to persons who provide information that leads to the recovery of funds lost through stockbrokers who breach their contractual obligations. In the recent past, the Capital Markets Authority (the CMA) has issued fines and other penalties to companies and even banned directors from holding office in publicly traded companies for failure to comply with the regulations governing the industry. It is hoped that the renewed efforts of the CMA to ensure the markets remain fair will increase growth of the capital markets in the country following years of slow growth. It is also intended to curb the practice of insider trading.
Nairobi International Financial Centre
The government hopes to establish a regional financial hub that mirrors the Doha International Financial Centre to encourage major economic growth and to position Kenya as a prime financial centre in the region. The country passed the Nairobi International Financial Centre Act (the Act) on 16 August 2017, which was a key step towards seeing its vision coming to fruition. The Treasury has also recently invited bidders for key consultations that will inform its decisions with regard to this project.
A financial centre usually aims to create an enabling legal environment to attract both foreign and local investors to the country. This usually involves having enabling company law, trust law, insurance law, as well as banking and tax regulations, with a view to attracting investors. Importantly the tax regime has also been changed to make it more favourable than that of other countries in the region. International finance centres have been successful in many major cities, including Frankfurt, Hong Kong, Johannesburg, London, New York and Zurich, among others.
Dentons takes this opportunity to thank Dr Daniel Wanjau Muriu, Lorna Mainnah, Andrew Njau and Sonya Syan of Dentons Hamilton Harrison & Mathews for their contribution to this month's newsletter.
Noor Kapdi
Noor Kapdi Chief Executive Officer - Africa, JohannesburgJohannesburgD +27 11 326 6257Cape TownCape TownD +27 21 686 0740
noor.kapdi@dentons.com
Robert Parring
Robert Parring Associate, Cape TownCape TownD +27 21 201 5118JohannesburgJohannesburgD +27 11 326 6257
robert.parring@dentons.com
Dr. Daniel Wanjau
Dr. Daniel Wanjau Partner, NairobiNairobiD +254 20 3258290
daniel.wanjau@dentons.com
Lorna Mainnah
Lorna Mainnah Partner, NairobiNairobiD +254 20 3258332
lorna.mainnah@dentons.com
Andrew Kaguangi Njau
Andrew Kaguangi Njau Associate, NairobiNairobiD +254 703 068430
M +254 733 673750
andrew.njau@dentons.com
Related practices, sectors and business issues
Client extranets
© 2019 Dentons. All rights reserved. Attorney Advertising.
Unsolicited emails and other information sent to Dentons will not be considered confidential, may be disclosed to others, may not receive a response, and do not create a lawyer-client relationship. If you are not already a client of Dentons, please do not send us any confidential information.
You are switching to another language. Please click Confirm below to continue.
You will now be taken from the global Dentons website to the $redirectingsite website. To proceed, please click Accept.