What is a charitable trust? Charitable Trust is defined as one in which property held by a trustee must be used for charitable purposes. Before a court can enforce a charitable trust, it must examine the charity and evaluate its social benefits. The court cannot rely on the view of the settlor, the one who…
Year: 2022
Over the past years in Kenya, Corporations have always focused on the economic aspects and how to grow the economy of the nation. This bore fruits for established business owners then and is likely to be so tomorrow. This was just the tip of the iceberg compared to the promulgation of the 2010 constitution of…
The Anti-Counterfeit Authority announced the commencement of recordation of Intellectual Property Rights (IPR) through the Anti-Counterfeit Authority Integrated Management System (“AIMS”). IPR recordation basically involves the creation of a database of IPR information relating to trademarks, copyrights, trade names, or any other protected intellectual property rights, for all goods to be imported into Kenya. The…
When you look at the widespread unemployment in the country, you will acknowledge the fact that there is an obvious and apparent difference in the bargaining power between employers and employees in the country. You will therefore understand why our Industrial courts have a high concern for employees; and fully accept that in their interpretation…
Taxation on Donations – Finance Act 2022/2023 People often consider tax collection as legalized robbery but despite having to pay more than is considered necessary in some instances, most citizens do comply with their tax obligations as non-compliance can lead to serious consequences. Nevertheless, due to recent changes in the law, some organizations and firms…
The Court of Appeal sitting in Nakuru have finally put this matter to rest in the case of Rift Valley Water Services Board & 3 Others v Geoffrey Asanyo & 2 Others in the Judgment delivered on 10th June 2022. Background The 1st Respondent to the above matter was appointed to serve as a board…
Professionalize your hustle today Research shows that most people living in third-world countries are middle class earners. For instance, according to the Kenya National Bureau of Statistics, the people middle-class are those who earn between Ksh 23,670 and Ksh 199,999 per month. This is proof that this group of people is not only growing but…
Be it turnover or profitability of a firm, financial issues in business are highly pegged on the strategic management of an entity. All businesses that exist, exist to make a profit, and FOBs are not an exception. It will be a misdemeanor not to discuss how important corporate governance influences the financial affairs in FOBs.
Corporate governance in family-owned businesses is the do or die of most companies. I would like to highlight some of the bottlenecks for sound corporate governance in the areas below