Nairobi — President Uhuru Kenyatta Thursday chaired a Cabinet meeting at State House, Nairobi, which discussed and agreed on a roadmap for resolving the maritime border dispute with Somalia and measures for safeguarding Kenya's territorial integrity.
The Cabinet resolution, which will be communicated later by the Cabinet Secretary for Foreign Affairs and International Trade, will also safeguard Kenya's marine resources including offshore oil and gas exploration acreage in the Indian Ocean.
The Cabinet also discussed and approved the Sectional Properties Bill 2018. The Bill simplifies the process of registering sectional properties and creates an enabling environment for investors and property owners.
The Sectional Properties Bill 2018, which vests reversionary interest on individual unit owners, also guarantees rights of property owners by conferring absolute rights to them.
The proposed law will enhance revenue collection since each unit will be assessed separately for purposes of payment of ground rent and rates.
The Bill also provides for the closure of the mother title or head lease to prevent mischief by property developers.
The formulation of the Sectional Properties Bill 2018 is informed by the fact that the current law is not responsive to emerging market needs such as the growing demand for affordable housing, mixed use and master-planned communities as well as efficient mortgage transactions.
The Cabinet discussed and approved the operationalization of the Kenya Commodities Exchange (KOMEX).
The operationalization of the commodities exchange will address the constraints faced by both small holder farmers and consumers by providing an organized market through a single platform where buyers and sellers meet. It will ensure better farm gate prices for farmers.
Other benefits of KOMEX include providing access to proper storage and warehousing especially for primary producers, miners, and farmers during bumper harvests. It also provides for stability in product price and quality hence guaranteeing better profit margins and reduce risks associated with lending to the agricultural sector.
The Cabinet also discussed and approved the hosting of the 12th Commonwealth Women Affairs Ministers (WAMM) meeting by Kenya in September 2019.
The event is expected to attract over 1000 participants from across the Commonwealth and globally including 53 Ministers in-charge of gender and/or women affairs and their delegations.
The WAMM meetings are held every three years since 1985 in regionally rotating venues to ensure equitable opportunities for hosting among Commonwealth countries.