Foreign companies eyeing to do business in the country’s lucrative ICT sector will have to surrender 30 per cent shareholding to Kenyans. This is according to the National Information Communications and Technology Policy Guidelines 2020, published last week, that spell out new regulatory obligations by companies and individuals working in the ICT sector. “The government strongly encourages Kenyans to participate in the ICT and science and technology sector through equity participation,” states the regulatory policy published last week by the ICT Ministry. “It is the policy that only companies with at least 30 per cent substantive Kenyan ownership, either corporate or individual, will be licensed to provide ICT services.” The State anticipates the policy will create 20 Kenyan multi-national ICT companies, 300 mid-sized firms, 5,000 small and medium enterprises and 20,000 startups. This is expected to increase the number of startups by easing their barrier to entry. The policy also proposes a government venture capital fund that will invest in start-ups for a portion of the equity on a first-loss basis in case the startup fails. Read on https://www.standardmedia.co.ke/business/article/2001381825/foreign-firms-to... ______________________ Mwendwa Kivuva, Nairobi, Kenya https://www.linkedin.com/in/mwendwa-kivuva