The Competition Act of Kenya requires that firms wishing to tender as Joint Venture undertakings which may prevent, distort or lessen competition in provision of services are prohibited unless they are exempt in accordance with the provisions of Section 25 of the Act.Ĭertificates issued by one of the aforesaid organizations as a lead member (having equity stake of 51% or more) of a Joint Venture (JV) for a work executed for the JV, will also be acceptable. Joint Venture meaning Expansion of companies nationally and internationally Balancing financial risks Market position Competitiveness Expansion of. If applicable, the Joint Venture Agreement (JVA) in case the joint venture is already in existence, or duly notarized statements from all the potential joint venture partners in accordance with Section 23.1(b) of the IRR. An entrepreneurial venture is simply referred to the establishment of a new commercial business, social business or other such form of businesses. Learn more in: Women Entrepreneurs and Microfinance Institutions: A Way to Create New Ventures. The Competition Act of Kenya requires that firms wishing to tender as Joint Venture undertakings which may prevent, distort or lessen competition in provision of services are prohibited unless they are exempt in accordance with the provisions of Section 25 of the Competition Act, 2010.Īlternatively, a Form of intent to execute a Joint Venture Agreement in the event of a successful Tender shall be signed by all members and submitted with the Tender, together with a copy of the proposed Agreement. The process of turning a new idea or technology into a business that can succeed and will attract investors: Potential entrepreneurs trying to identify a possible business idea, pay attention to everything in the media.
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