Ugandan member secures first money remittance license in Africa

Uganda

Katende, Ssempebwa & Co Advocates [“KATS”] has successfully advised BT Payment Services, a Fintech- digital- money remittance services provider on the licensing of its operations in Uganda by the Bank of Uganda. BT Payments Services Limited, a Ugandan financial technology company with roots in Kenya provides a secure web-based money remittance option that allows the […]

Developments in Competition Law in Africa

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African States are increasingly implementing and enforcing competition laws both on a national and a regional basis. This has important implications for foreign and local businesses operating in Africa. At LEX Africa’s June seminar on developments in competition law in Africa, speakers discussed the increasing trend of governments to try and use competition law as […]

Trade in Africa: Recent developments, opportunities, incentives and challenges

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Recession, lack policy reform and administrative hurdles often affect the climate of trade, investment and business in Africa. At LEX Africa’s most recent seminar, members discussed the challenges and changes seen in 2018. Osayaba Giwa-Osagie, senior partner at Giwa-Osagie & Co — a LEX Africa member in Nigeria — chaired an in-depth panel discussion on […]

Whisperings on African business developments & opportunities – October 2014

Africa Update

The AGRICULTURE SECTOR IN AFRICA is still lacking in agricultural input commodities.  Only five states (i.e. South Africa, Malawi, Kenya, Zimbabwe and Egypt) have seed industries which provide about twenty per cent of the continent’s requirements.  Eighty-five per cent of the fertilizer requirement is imported with South Africa and Morocco being the major producers.  However, […]

Design Protection in Kenya: Tips & Pitfalls

Africa Update

There is growing interest in Kenya about the need of obtaining intellectual property protection on inventions. These relate to unique and useful products, processes and ideas created by a person. In the developed economies, innovations that create new or improved products (e.g. industrial processes or products such as smart phones) and new ways of doing […]

Recent developments affecting Double Taxation Treaties and Withholding Tax

Africa Update

The Finance Act, 2014 (Finance Act) was brought into force on 14th September 2014.  The Finance Bill, as originally presented to Parliament, underwent a series of last minute amendments which will see the re-introduction of capital gains tax (CGT) in Kenya with effect from 1st January 2015.  The provisions in the Income Tax Act (ITA) […]

Parliamentarians say Capital Gains tax to be re-introduced to Kenya

Africa Update

Highlights of the debate in Parliament which were passed relating to CGT are as follows: Comes into effect on 1 January 2015 Taxes capital gains made by companies on the disposal of any property (which is widely defined) Taxes gains made by individuals on (a) land and (b) marketable securities including investment shares (latter being […]

Mauritian tax law update

Africa Update

INTERNATIONAL TAX (i) Mauritius and Kenya Double Tax Treaty Both the Kenyan and Mauritian Governments have now ratified the double taxation treaty document between the two countries, and same has been published in the Kenyan Gazette. The date of entry in force of the treaty is yet to be confirmed. The salient features of the […]

Kenya Mauritius Double Taxation Agreement

Africa Update

The double taxation agreement (DTA) between Kenya and Mauritius, signed on 7 May 2012, has now been ratified and will come into force with effect from 1 January 2015. This is expected to increase investment in Kenya through Mauritian companies as such entities would benefit from establishment in a low tax jurisdiction coupled with a […]