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The controversial clause in the new Companies Act, 2015 which requires foreign companies to cede 30 per cent stake to Kenyan citizens by birth was an "error" that has since been rectified, said Industrialisation Cabinet Secretary Adan Mohamed.
Mr Mohamed noted that the clause, which never featured when the Act was first introduced to Parliament seven years ago, must have been sneaked into the law at some point in the committee stage. He insisted the clause did not represent the Government policy and will be suspended.
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