Development Partners
International Finance Corporation (IFC)
The International Finance Corporation (IFC) has been a key partner in supporting reforms that include business process re-engineering, digitization of manual company records, capacity building and public awareness on the Movable Property Security Rights Act, 2017 through the Financial Sector Support Project.
This has enhanced service delivery and improved ease of doing business in Kenya.
Key outcomes of the support areas by the IFC include:
• Automated Processes at BRS
• Implementation of an Electronic Document Management System
• Integration of Companies, e-Collateral, Hire Purchase and OR Registries
• Integration with other government registries
• Data Clean-up of BRS records
• Master list of all entities registered at the Companies Registry
• Digitization of all Official Receiver in Insolvency records
• Digitization of all Company Registry Records
• Capacity building and stakeholder’s engagement on Movable Property Security Rights Regulations, 2017, and the creation of the MPSR e-Registry
• Public Awareness of the e-collateral registry
• Publishing of the MPSR Guidebook
Funding:
1. IFC - USD 1,136,200
2. IFC – USD 207,700
3. GoK - USD 242,000
German Development Cooperation (GIZ)
GIZ has been a key partner in supporting programs on combating illicit financial flows and specifically Beneficial Ownership Information Disclosure that has enhanced transparency in business ownership through legislative reviews and the development of an online Beneficial Ownership Information (BOI) Register, development of an Artificial Intelligence (AI) Powered Chatbot and Review of the Trust Laws.
Key outcomes of the support areas by the GIZ include:
• Amendment of Companies and Limited Liability Partnership Acts.
• Operationalization of Beneficial Ownership Information Register for private companies by 2020.
• Development and Publication of a Guidebook on Disclosure of Beneficial Ownership Information.
• Publishing of the National Risk Assessment on Money Laundering and Terrorism Financing of Legal Persons and Legal Arrangements – Kenya
• Publishing of the Beneficial Ownership Information Guidebook
• Public Awareness on Beneficial Ownership Information disclosure.
• Developed AI-powered chatbot that provides information on business registration services.
• Review of the Trust Law – 546,000 – Prepared Zero draft of the Trust Law
Funding:
1. GIZ - USD 100,000
2. GIZ – USD 4200
3. GoK - USD 20,000
FSD Kenya
The Financial Sector Deepening (FSD) Kenya have supported a raft of reforms aimed at increasing financial inclusion and facilitating access to finance. The support by FSD have been key in enhancing the Movable Property Security Rights Registry.
Key outcomes of the support areas by the FSD-Kenya include:
• Technical review and enhancement of the Movable Property Security Rights (MPSR) Registry.
• Public awareness campaigns and capacity-building of the MPSR registry.
• Prepared the draft MPSR Amendment Bill
• Stakeholder engagement and feedback incorporation for the draft MPSR amendment Bill
Funding:
1. FSD-Kenya - USD 20,000
Transparency International – Kenya
Transparency International - Kenya has been a key partner in supporting programs on combating illicit financial flows and specifically Beneficial Ownership Information Disclosure that has enhanced transparency in business ownership through public awareness and legistlative reviews.
Beneficial Ownership Information Disclosure is anchored under a project seeking to promote Domestic Resource Mobilization (DRM) in Sub-Saharan Africa whose main objective is to contribute to greater social justice and economic accountability at all levels of government through advocacy and development of supportive systems and policies in the East Arica Community region.
With the Companies (Beneficial Ownership Information) Regulations 2020 currently being implemented, TI-Kenya thought it best to have a nationwide discussion on the implementation status, the challenges and opportunities as well as look at some policy gaps that are yet to be addressed to ensure full beneficial ownership transparency.
Key outcomes of the support areas by the TI-Kenya include:
• Joint public awareness through varied media channels
• Stakeholder engagement forums on policy and regulatory reforms
British High Commission
The British High Commission through the Open Ownership programme has been a key partner in supporting programs on Beneficial Ownership Information Disclosure that has enhanced transparency in business ownership through review of the laws and public awareness. Open Ownership is closely involved in providing evidence, advice, and data analysis to support implementation and improvement of beneficial ownership transparency across the globe.
Key outcomes of the support areas by the British High Commission include:
• Structured stakeholder engagement forums on the Beneficial Ownership Information
• Review of Beneficial Ownership Information amendment
Funding:
1. BHC - USD 6,000
