Kenya moves to modernise investment, pest control laws
The change is aimed at attracting investment and encouraging deeper participation in Kenya’s financial sector.
Kenya is preparing to open its capital markets to larger investment flows following a Cabinet decision to lift shareholder limits in regulated institutions, while maintaining oversight mechanisms to protect financial integrity.
The Cabinet, chaired by President William Ruto, on Tuesday approved amendments to the Capital Markets Act that will do away with caps on how much shareholders can own in regulated financial institutions.
The change is aimed at attracting investment and encouraging deeper participation in Kenya’s financial sector.
To ensure responsible investment and regulatory stability, the Cabinet agreed that governance structures within these institutions will remain strong.
The Cabinet Secretary for National Treasury will also retain powers to impose shareholder limits on particular licence categories, if found necessary.
“These amendments are not expected to have a direct financial impact on government revenue,” the Cabinet noted.
In another key move, the Cabinet endorsed the Draft Pest Control Products Bill, 2024, which introduces a fresh regulatory framework to oversee pest control products in the country.
The Bill proposes the creation of the Pest Control Products Authority, a new body that will regulate pest control products in a way that aligns with the Constitution and international laws.
The Cabinet said the updated legal framework will enhance food safety, protect the environment, improve public health, and support Kenya’s agricultural exports.
The new laws are designed to boost investor confidence in capital markets and bring modern oversight to agricultural chemicals, demonstrating the government's focus on economic growth and health safeguards.
Top Stories Today
