Please indicate whether there is a foreign direct investment review regime in your jurisdiction in relation to mergers involving foreign buyers / acquirers and kindly indicate the relevant review/regulatory body? If there is, please indicate whether there have been any foreign direct investment notifications to date. If there is no foreign direct investment regime, kindly indicate whether there are any plans announced to introduce it.
Foreign direct investments relating to mergers involving foreign buyers or acquirers fall within the ambit of the Competition Act and are, therefore, subject to review by the CAK if they meet the merger thresholds. There have been a number of mergers involving foreign buyers or acquirers in Kenya. For instance, in the financial year 2019/2020, the CAK reported that there were 72 mergers with an international dimension.
That being said, there are no separate foreign investment filings that need to be made.
If there is a foreign direct investment regime in your jurisdiction, please indicate whether it applies to all sectors or specific sectors (such as sectors considered to relate to ‘national security’).
The foreign direct investment regime, which is governed by the Competition Act, applies to all sectors.