Videos

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Kenya Business Act: Jacqueline Waihenya part 1

Business laws have come to support the ease of doing business in Kenya. Engagement and endeavours that have been done by the government include the more recent one is the business laws amendment Act of 2021; this has helped impact the standing of Kenya within the world bank index and in the year 2019 , we were at number 56 ” She says.

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The Act changed NSSF collections by Jacqueline Waihenya ,Managing Partner JWM, LAW LLP , (Part II)

“Business laws target some important issues that have a reason. From last year we have embraced digitization, we’ve had to go virtual, the interesting thing is that in business amendment laws 2020, they introduced the electronic seal. We also have a few requirements that have changed compliance and the one affecting most people is the NSSF amendment from 30th 3 2021 . All returns to NSSF are required to be done .”

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Act provides options for insolvency by Jacqueline Waihenya, Managing Partner JWM LAW LLP, (Pt III)

The biggest contribution that this act has provided together with the one of 2020 was the creation of the insolvency Moratorium. Sometimes you may want to close the company voluntarily and there is a provision in the insolvency act for doing that before. In the insolvency act 2015, we used to have two ways of approaching insolvency and that was bankruptcy. If you are an individual person and you owe other people money rent then we declare you bankrupt. The law has to come inside and ensure these people are taken care of. That is what the Insolvency process means”

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Highlights of the Insolvency Act by Jacqueline Waihenya, Managing Partner JWM LAW LLP, (Part IV)

“Now, what the insolvency act has done was to create a new way of thinking, a new philosophy, a new paradigm, and with the new insolvency act. The thinking is…, well you may have undergone a few hard knots or a few challenges but there is a possibility that you could continue being a going concern, so let us, first of all, give you a framework within which we can encourage you to survive to make it through to the other end . of course the process is not open-ended. It is a process of about one year. and an example of a company that has undergone this is Nakumatt”

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Act provides options before bankruptcy by Jacqueline Waihenya, Managing Partner JWM LAW LLP, (Pt V)

There was a step that was undertaken in business laws 2020 to create a grace period, it was felt that there was a need to create a moratorium. We know that this person is in distress they are in a fix, they have a problem what the law is creating is a perfect solution telling the creditors to hold on. Let us see if we can continue to trade and bring enough money so that we can be able to pay you and still continue in business ..”

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What makes business easier today by Jacqueline Waihenya, Managing Partner JWM LAW LLP, (Part VI)

“When we started practicing having a computer, it was really a big deal, It was actually a very expensive deal, but now you can get a laptop for a relative amount. Monstrosity…. a computer was big and huge and could not move around with it doing business. It was expensive … The time we actually spent has been cut down significantly”