Market News
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Kenya to revoke controversial mining tax
Posted on :Tuesday , 20th January 2015
Less than a month after Uhuru Kenyatta was sworn in as Kenya's new president, his administration is planning to revoke rules passed in 2012, which impose 35% local equity shareholding in the country’s mining licences, reports Business Day.
Unlike most African governments, Kenyatta’s is not seeking larger ownership stakes in foreign miners with the upcoming mining bill. . .Kenya to form state-owned mining company
Posted on :Tuesday , 20th January 2015
The Kenyan government announced last week it will form a national mining corporation, reports the Daily Nation.
The state-owned company will handle joint ventures with the private sector.
Najib Balala, the government's cabinet secretary in charge of mining, also said a new mining bill will ensure mineral investments work in the public interest.
The a. . .
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