NAIROBI, KENYA: International ICT companies seeking to set up shop in Kenya will have to conform to a new set of rules set out by the government. A review of the national ICT policy now makes it a must for such companies to let go of 30 per cent of company shares to Kenyans. For purposes of this rule, companies without majority Kenyan ownership will not be considered Kenyan, and may thus not be calculated as part of the 30 per cent Kenyan ownership calculus,” says the ministry in a gazette notice. “Licensees will have three years to meet the local equity ownership threshold they may apply to the Cabinet Secretary for a one-year extension with appropriate acceptable justification.” The National ICT policy was last reviewed in 2006. Jerome Ochieng, Principal Secretary ICT says the policy is a product of an all-inclusive, participatory and consultative process.

Source: Standard Digital August 12, 2020 18:15 UTC