This archive report was first published on 30 October 2019.
On October 30, 2019, the Statute (Miscellaneous Amendments) Act No. 12 of 2019 was passed, allowing shareholders with a 50 percent stake to make compulsory acquisitions of shares held by remaining investors.
This change has left minority investors exposed and does not bode well for robust governance, particularly in the Nairobi Securities Exchange.
The manner in which this law was passed has raised concerns over transparency, as it was part of an omnibus Bill that may have escaped scrutiny and debate.
It is not too late to go back to the drawing board and amend the law to avoid investor flight from the NSE.
