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Kenya Hunts Foreign-Owned Tech Startups With 30% Local Ownership Law

Kenya’s new National Information Communication and Technology (ICT) Policy was published in the Kenya Gazette earlier this month, effectively becoming the new policy. And one of the biggest talking points in the new policy is the provision that redefines ICT company ownership requirements in Kenya.

Kenyan individuals or corporations must own at least 30 percent of any tech venture rooted in the country, lest such companies will not be licensed to operate in the country.

“The government strongly encourages Kenyans to participate in the ICT and science and technology sector through equity participation,” states the regulatory policy published by the ICT Ministry.

“It is the policy that only companies with at least 30 percent substantive Kenyan ownership, either corporate or individual, will be licensed to provide ICT services.

Read more: Weetracker

 


 

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