Ratio Magazine :: The Inside Track to East Africa’s Economies - Kenya: 2009 Ernst and Young Budget Review

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| Rea Vipingo Plantations Ltd Ord 5.00 16.45 0.00 | Sasini Ltd Ord 1.00 11.55 0.00 | AccessKenya Group Ltd Ord. 1.00 10.00 0.00 | Car & General (K) Ltd Ord 5.00 49.50 DNT | CMC Holdings Ltd Ord 0.50 10.40 -0.10 | Hutchings Biemer Ltd Ord 5.00 20.25 DNT | Kenya Airways Ltd Ord 5.00 39.50 0.00 | Marshalls (E.A.) Ltd Ord 5.00 14.20 DNT | Nation Media Group Ord. 2.50 173.00 -1.00 | Safaricom Ltd Ord 0.05 4.20 0.05 | Scangroup Ltd Ord 1.00 60.00 -0.50 | Standard Group Ltd Ord 5.00 39.50 DNT | TPS Eastern Africa (Serena) Ltd Ord 1.00 66.50 0.00 | Uchumi Supermarket Ltd Ord 5.00 14.50 DNT | Barclays Bank Ltd Ord 2.00 69.50 0.50 | Centum Investment Co Ltd Ord 0.50 22.25 0.25 | CFC Stanbic Holdings Ltd ord.5.00 79.00 0.00 | Diamond Trust Bank Kenya Ltd Ord 4.00 146.00 -1.00 | Equity Bank Ltd Ord 0.50 28.75 0.25 | Housing Finance Co Ltd Ord 5.00 28.00 0.75 | Jubilee Holdings Ltd Ord 5.00 187.00 1.00 | Kenya Commercial Bank Ltd Ord 1.00 23.25 0.25 | Kenya Re-Insurance Corporation Ltd Ord 2.50 10.60 -0.10 | National Bank of Kenya Ltd Ord 5.00 47.00 0.50 | NIC Bank Ltd 0rd 5.00 52.00 0.50 | Olympia Capital Holdings ltd Ord 5.00 5.00 0.05 | Pan Africa Insurance Holdings Ltd 0rd 5.00 76.00 -3.50 | Standard Chartered Bank Ltd Ord 5.00 275.00 3.00 | The Co-operative Bank of Kenya Ltd Ord 1.00 20.25 0.25 | Athi River Mining Ord 5.00 180.00 -1.00 | B.O.C Kenya Ltd Ord 5.00 150.00 DNT | Bamburi Cement Ltd Ord 5.00 197.00 0.00 | British American Tobacco Kenya Ltd Ord 10.00 280.00 6.00 | Carbacid Investments Ltd Ord 5.00 145.00 -1.00 | Crown Berger Ltd 0rd 5.00 32.50 -1.50 | E.A.Cables Ltd Ord 0.50 19.15 -0.40 | E.A.Portland Cement Ltd Ord 5.00 100.00 -3.00 | East African Breweries Ltd Ord 2.00 181.00 1.00 | Eveready East Africa Ltd Ord.1.00 2.55 0.00 | KenGen Ltd Ord. 2.50 15.50 -0.05 | KenolKobil Ltd Ord 0.05 9.40 -0.10 | Kenya Power & Lighting Co Ltd Ord 2.50 22.50 0.50 | Mumias Sugar Co. Ltd Ord 2.00 8.10 -0.30 | Sameer Africa Ltd Ord 5.00 6.15 -0.05 | Total Kenya Ltd Ord 5.00 28.00 0.25 | Unga Group Ltd Ord 5.00 10.35 -0.10 | City Trust Ltd Ord 5.00 186.00 DNT | Eaagads Ltd Ord 1.25 50.00 -4.50 | Express Ltd Ord 5.00 7.50 -0.20 | Williamson Tea Kenya Ltd Ord 5.00 200.00 0.00 | Kapchorua Tea Co. Ltd Ord Ord 5.00 125.00 DNT | Kenya Orchards Ltd Ord 5.00 3.00 DNT | Limuru Tea Co. Ltd Ord 20.00 305.00 DNT | Kakuzi Ord.5.00 77.00 -3.00 | Rea Vipingo Plantations Ltd Ord 5.00 16.45 0.00 | Sasini Ltd Ord 1.00 11.55 0.00 | AccessKenya Group Ltd Ord. 1.00 10.00 0.00 | Car & General (K) Ltd Ord 5.00 49.50 DNT | CMC Holdings Ltd Ord 0.50 10.40 -0.10 | Hutchings Biemer Ltd Ord 5.00 20.25 DNT | Kenya Airways Ltd Ord 5.00 39.50 0.00 | Marshalls (E.A.) Ltd Ord 5.00 14.20 DNT | Nation Media Group Ord. 2.50 173.00 -1.00 | Safaricom Ltd Ord 0.05 4.20 0.05 | Scangroup Ltd Ord 1.00 60.00 -0.50 | Standard Group Ltd Ord 5.00 39.50 DNT | TPS Eastern Africa (Serena) Ltd Ord 1.00 66.50 0.00 | Uchumi Supermarket Ltd Ord 5.00 14.50 DNT | Barclays Bank Ltd Ord 2.00 69.50 0.50 | Centum Investment Co Ltd Ord 0.50 22.25 0.25 | CFC Stanbic Holdings Ltd ord.5.00 79.00 0.00 | Diamond Trust Bank Kenya Ltd Ord 4.00 146.00 -1.00 | Equity Bank Ltd Ord 0.50 28.75 0.25 | Housing Finance Co Ltd Ord 5.00 28.00 0.75 | Jubilee Holdings Ltd Ord 5.00 187.00 1.00 | Kenya Commercial Bank Ltd Ord 1.00 23.25 0.25 | Kenya Re-Insurance Corporation Ltd Ord 2.50 10.60 -0.10 | National Bank of Kenya Ltd Ord 5.00 47.00 0.50 | NIC Bank Ltd 0rd 5.00 52.00 0.50 | Olympia Capital Holdings ltd Ord 5.00 5.00 0.05 | Pan Africa Insurance Holdings Ltd 0rd 5.00 76.00 -3.50 | Standard Chartered Bank Ltd Ord 5.00 275.00 3.00 | The Co-operative Bank of Kenya Ltd Ord 1.00 20.25 0.25 | Athi River Mining Ord 5.00 180.00 -1.00 | B.O.C Kenya Ltd Ord 5.00 150.00 DNT | Bamburi Cement Ltd Ord 5.00 197.00 0.00 | British American Tobacco Kenya Ltd Ord 10.00 280.00 6.00 | Carbacid Investments Ltd Ord 5.00 145.00 -1.00 | Crown Berger Ltd 0rd 5.00 32.50 -1.50 | E.A.Cables Ltd Ord 0.50 19.15 -0.40 | E.A.Portland Cement Ltd Ord 5.00 100.00 -3.00 | East African Breweries Ltd Ord 2.00 181.00 1.00 | Eveready East Africa Ltd Ord.1.00 2.55 0.00 | KenGen Ltd Ord. 2.50 15.50 -0.05 | KenolKobil Ltd Ord 0.05 9.40 -0.10 | Kenya Power & Lighting Co Ltd Ord 2.50 22.50 0.50 | Mumias Sugar Co. Ltd Ord 2.00 8.10 -0.30 | Sameer Africa Ltd Ord 5.00 6.15 -0.05 | Total Kenya Ltd Ord 5.00 28.00 0.25 | Unga Group Ltd Ord 5.00 10.35 -0.10 | City Trust Ltd Ord 5.00 186.00 DNT | Eaagads Ltd Ord 1.25 50.00 -4.50 | Express Ltd Ord 5.00 7.50 -0.20 | Williamson Tea Kenya Ltd Ord 5.00 200.00 0.00 | Kapchorua Tea Co. Ltd Ord Ord 5.00 125.00 DNT | Kenya Orchards Ltd Ord 5.00 3.00 DNT | Limuru Tea Co. Ltd Ord 20.00 305.00 DNT

Kenya: 2009 Ernst and Young Budget Review

Tuesday, 16 June 2009

Page 7 of 7

OTHER SUBSIDIARY LEGISTLATIONS

The Kenya Airports Authority Act (Cap 395)
The Minister proposes to amend the Act to establish a fund to be known as Kenya Airports Authority Fund. This will be funded from fees or rates charged under the Air Passenger Service Charge Act, appropriations from Parliament, donations or monies lent to the Authority. Previously there was no such fund. It is anticipated that creation of the Fund will avail resource for development and maintenance of Airports. The effective date is 1 January 2010.

The Air Passenger Service Charge Act
The Minister proposes to amend section 6 of the Act to direct the Commissioner of Kenya Revenue Authority to collect charges under the Act and put the money collected into the Kenya Airports Authority Fund. This is to be effective 1 January 2010.

The Coffee Act
The minister proposes to amend Section 18 of the Coffee Act, to provide for licenses that may be issued under the Act. Under the new rules, a separate license will be required for one to process or market coffee. Effective date is 1 January 2010.

Micro Finance Act
The Finance Bill proposes amendment of Section 34 of the Micro Finance to allow exchange of information on non performing loans between the Deposit Protection Fund Board and micro finance institutions in the manner prescribed by the Minister under the issuance of direction and guidelines to institutions by the Central Bank. This is aimed at stabilizing the microfinance institutions. Effective date is 1 January 2010.

The Traffic Act
The Minister proposes to amend Section 6 of the Traffic Act to require that commercial vehicles imported for home use and those which require inspection shall be inspected and registered within 30 days of release by the customs. Previously the vehicles were required to be registered within 14 days of inspection. Section 98 (4) of the Traffic Act has been amended to provide that a license to drive, or a license to act as the conductor of a public service vehicle shall be valid for one year from the date of issue. Previously the license was valid for a period of two years. This is aimed at instilling discipline in the transport sector. Effective date is 1 January 2010.

The Bill of Exchange Act
The Minister seeks to amend section 74 of the Act, to empower the Central Bank to issue guidelines on the systems of cheque clearing between banks based on electronic data or images without the convectional physical exchange of instruments. This is effective from 1 January 2010.

The Insurance (Motor Vehicle Third Party Risk) Act
The Finance Bill proposes to amend Section 10 of the Act, to protect insured persons from actions by insurers to recover from them amounts which an insured person becomes liable to pay in excess of the premium amount. Currently, the insurer can file actions to recover the excess from the insured. This is effective from 1 January 2010.

The Foreign Investment Protection Act, The minister proposes to amend Section 8 B (1) of the Act, to provide for the publication of agreements made with the Governments of other countries through a Gazette Notice. This is aimed at promoting and protecting foreign investments, secured through special arrangement with other Governments. This is effective from 1 July 2009.

Persons with Disabilities Act
Person with disabilities who are in receipt of income will be exempted from Income tax pursuant to new procedures to be gazetted by the Minister for Finance under Section 35 (2) of the Act. Previously, the Minister could only exercise the power to exempt after consulting the National Council for Persons with Disabilities. The effective date is 1 January 2010.

Sugar Act
Through legal Notice No. 98, which is effective from 11 June 2009, the Minister for Agriculture has imposed a levy at the rate of four per centum of the ex- factory price for locally produced sugar and of the landed entry point price for imported sugar (other than industrial sugar imported by gazetted manufacturers under the duty remission scheme).

Stamp Duty Act The stamp duty Regulations have been amended to exempt from duty instruments registered under or drawn and executed under the provisions of the Companies Act. This is aimed at encouraging individuals to register companies. This is effective from 11 June 2009.

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