Kenya has implemented a new legal framework requiring trusts to disclose beneficial ownership, enhancing transparency in asset management. The Trust Administration Bill, 2026, signed into law by President William Ruto on September 8, mandates that information on individuals controlling or benefiting from trust structures be recorded and accessible to authorities. This reform aims to close gaps in financial oversight and align with international standards.
The legislation requires trustees to maintain detailed records of beneficiaries, ensuring that authorities can trace assets linked to trusts. This move is part of Kenya’s broader effort to combat money laundering and illicit financial flows. The law also introduces penalties for non-compliance, reinforcing accountability in trust administration.
By formalizing beneficial ownership, Kenya seeks to improve financial governance and support global anti-corruption initiatives. The law is expected to enhance transparency in the financial sector and strengthen regulatory oversight. Implementation details and enforcement mechanisms are currently under development.
