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.