By EDWIN MUTAIMore by this AuthorPresident Uhuru Kenyatta has rejected Parliament’s bid to lock Swiss majority shareholder out of the Kenya National Shipping Line (KNSL). Mr Kenyatta refused to assent to the Statute Law (Miscellaneous Amendments) Bill after MPs introduced changes to have the KNSL owned exclusively by the State. MPs last week approved amendments to the KNSL Act that would have effectively locked out Mediterranean Shipping Company (MSC), a Swiss company that owns majority shares at the KNSL. “In his memorandum, the President has expressed reservations on the provisions relating to the Merchant Shipping Act, 2009 as passed by the House. The President has a reservation with the limitation on “whole ownership,” Speaker Justin Muturi told MPs.

Source: Daily Nation June 20, 2019 18:56 UTC