Kenya Has Reversed The Decision To Allow Foreign Investors Own 100 Percent Of Listed Companies

This time last year, Kenya’s Capital Markets Authority ended restrictions on foreign shareholding in listed firms, and allowed foreign investors to own 100% of listed companies.

So, it was confusing when Kenya’s Attorney General issued a gazette notice earlier this month, which made it mandatory for firms operating in Kenya, to have 30% of their shares held by local entities. Failure to comply, will see firms having to pay a fine of $50000. Read more on this story here.