The COVID-19 pandemic has resulted in widespread economic shocks across the world. In view of the various constraints relating to the pandemic, businesses are concerned that their ability to comply in a timely manner with various statutory obligations may be impaired during this period.
To this end, our firm, working in consultation with various clients operating businesses in various sectors of the Kenyan economy, as well as relevant industry associations, has reviewed a cross-section of the laws relating to different types of business entities (such as companies and limited liability partnerships, entities operating in the capital markets and listed entities). The review has been done in the context of commercial transactions, healthcare, insurance, employment, insolvency, banking and finance, real estate, construction, projects and infrastructure and tax (amongst others). We have also reviewed the relevant rules of civil procedure and procedural rules of courts and tribunals in relation to dispute settlements in Kenya.
As a result, we have put together a detailed memorandum with our recommendations and submitted it to the Office of The Attorney General as well as other relevant bodies for consideration. In conducting this exercise we have taken cognisance of the regulatory and legislative responses to the pandemic in other markets which have been exposed to effects of COVID-19 a little earlier than Kenya. We have focused on the legislative provisions which, if amended, would have broad impact and benefits for businesses in Kenya as a whole. We have also had the support of the Commonwealth Secretariat which is deeply engaged with helping nations in the Commonwealth cope with COVID-19 and its aftermath.
To get a copy of the detailed memorandum with our proposed legislative amendments to ameliorate the impact of COVID-19 in Kenya, click here.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.