Assisting East African Family Businesses to Structure Their Holdings
Key Contact
Faizal Bhana › Director – Middle East, Africa and India, Jersey Finance
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This month, our Director – Middle East, Africa, and India, Faizal Bhana, co-hosted two events in Mombasa and Nairobi, focussing on the legal, financial and practical considerations for family businesses both regionally and internationally.
Both events featured speaker Frank Mwiti, Eastern Africa Markets Leader at EY, who provided an insight into the tax landscape for East Africa.
The first event took place on Tuesday 5 March 2024 in partnership with CMS Kenya | Daly Inamdar Advocates. Faizal was joined by Abdulhafeez Noorani, Partner at CMS Kenya | Daly Inamdar Advocates, in leading the event.
The keynote address by Nihla Mazuri, Partner at RSM, set the tone for an engaging panel discussion, moderated by Nishit Maru, Partner at CMS Kenya | Daly Inamdar Advocates featuring esteemed panellists:
- Sevyn Kalsi, Partner at Bedell Cristin
- Alex Muchira, Partner at CMS Kenya | Daly Inamdar Advocates
- Robert Maina, Associate Director, International Tax and Transaction Services at EY
- John Félicité, Business Development Director – Africa at Ocorian
- Claire Machin, Group Director, Head of Private Wealth at Suntera Global.
The panel discussed an array of topics, including the tax considerations for optimal holding structures in Kenya, as well as case studies illustrating what trustees often see in family businesses when consolidating their assets.
Event Photos
On Thursday 7 March, we joined Spencer West, Kenya, for their first-ever event in Kenya.
Faizal co-hosted the event with Haanee Khan, Founding Managing Partner of Spencer West, Kenya, which featured keynote speaker: James Mwangi, Director of Enashipai Resort & Spa, who shared his experience as a family business owner.
The panel, moderated by Teodosia Osir, Partner at Spencer West, Kenya, explored key taxations to consider when members of a family business are based onshore and offshore, the challenges African businesses face when passing on ownership of assets in families, and how this compares to other families across the world.
The panel boasted a lineup of distinguished speakers including:
- Sevyn Kalsi, Partner at Bedell Cristin
- Robert Maina, Associate Director, International Tax and Transaction Services at EY
- John Félicité, Business Development Director – Africa at Ocorian
- Winnie Koech, Manager/Wealth and Investment at Stanbic Bank.
Event Photos
We’re delighted with the success of these events and look forward to returning to Mombasa and Nairobi later in the year. To find out more about Jersey’s relationship with Africa, please get in touch with Faizal Bhana.
More from Faizal Bhana:
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5 September 2023
