Kenya is experiencing an upward surge in social and economic growth which is largely attributed to the exponential advancement in technology. At the crux of technological advancement is the collection, transmission and storage of data between various government agencies, private sectors and social classes. All these transformative developments in technology have raised pertinent concerns about usage and safety of personal data in the hands of various government institutions and actors.
Closer home, Strathmore University and Privacy International in a report published on the 2nd May 2018, revealed that lack of a regulatory framework to protect data, openly and largely exposed voter data to misuse in the 2017 elections. The Report recommended establishment of an effective Institutional and Legal framework to combat misuse of personal data. (more…)
A surety bond is a type of risk management tool; it is an agreement where the surety, a bank or an insurance company, provides their financial backing of the principal (the party responsible for fulfilling an obligation) for the benefit of the beneficiary (the party to whom the principal owes the obligation).
Although surety bonds may take the form of performance guarantees, advance payment guarantees, bid bonds and letters of credit, they have two things in common. First, they are the oil that lubricates trade, whether domestic or international. Second, they enable parties who hardly, or do not, know each other in the business sense to transact in the confidence that the amount stated in the bond will be paid in accordance with the bond terms, by the surety, bila maneno (without let or hindrance). (more…)
On 21st September 2018, the President of Kenya assented to the Finance Act, No. 10 of 2018 after a lengthy legislative process. This was preceded by the President initially exercising his powers under Article 115(1)(b) of the Constitution of Kenya, 2010 to reject an earlier version that had been approved by the National Assembly. As a result, the Finance Act as assented incorporates the contents of the President’s proposals as per the Memorandum to the National Assembly rejecting the initial version of the Finance Bill. (more…)