Re:Kenya: Foreign companies to face 30 per cent local owners...
by kevindong on Sunday July 24, 2016 @10:18PM
(#12156066)
The difference is that the Chinese market is utterly massive regardless of which scale you use. Kenya, comparatively, is tiny. While Kenya has a substantial population (~44 million), it's no where near enough for foreign firms to actually obey that law as it's intended. In addition, China is far more wealthy than Kenya (as measured by: China's GDP per capita ($6,807 USD) is over 5 times higher than Kenya's ($1,245 USD)). China and Kenya's situations are not at all similar in this case.
> The new law will not be applied retrospectively – meaning the Act does not apply to existing foreign companies already registered in Kenya, said Mr Ouma.
Regardless though, this won't have any real effect immediately.
> The new law will not be applied retrospectively – meaning the Act does not apply to existing foreign companies already registered in Kenya, said Mr Ouma.
Regardless though, this won't have any real effect immediately.