MOJA E V AFRICA

NAIROBI

17/05/2024

FOR THE ATTENTION OF: Tony

Dear Sir,

RE: INTRODUCTION TO LEASING ASSOCIATION OF KENYA

The Leasing Association of Kenya (LAK) is an umbrella association of asset finance and leasing practitioners in
Kenya. The origin of LAK was the East, Central & Southern Africa Leasing Association which was registered in
Kenya in 2003 but the name was later changed to the Leasing Association of Kenya in 2007 to better reflect the
membership.

LAK’s mandate is to bring together all firms and individuals engaged in leasing with the aim of developing a
sustainable Leasing industry in Kenya. This mandate is achieved via the following key activities:

a) Creating awareness of leasing benefits in Kenya through topical seminars, workshops, conventions and
research studies targeted at various stakeholders.
b) Lobbying and advocacy for regulatory reforms to improve/ increase use of leasing in the country.
c) Training and capacity building for lease professionals.
d) Self-regulation and control of ethical behavior among industry players.
e) Enhancing Corporate Social Responsibility as part of the association’s efforts to contribute to the overall
wellbeing of society beyond leasing.

LAK is instrumental in driving regulatory reforms that have improved lease operations in Kenya as follows:

a) The definition of “Commercial” with respect to the type of leased cars was clarified in the Income Tax
rules.
b) The definition of “Assets” was clarified in the Income Tax rules with the exclusion of buildings and land.
c) With Holding Tax on lease transactions were removed from a high of 15%.
d) The need to have approval from Kenya Revenue Authority at end of lease terms was removed.
e) The Claw Back Provision in the event of non-conformity with the Income Tax Rules on Leasing was
clarified to also include Lessor’s perspectives. It is our firm belief that you have a genuine interest in this
area and we would therefore like to call upon you to consider the possibility of engaging in a mutually
beneficial relationship.

As a paid member, you and your organization will get professional development tools, network with other lease
professionals, and access unique knowledge and information to guide you on the path to success in the lease industry
in Kenya. Make an impact on your career, your organization, and your everyday life with an LAK membership type
that is right for you:

Full Member Kshs 50,000

Associate Member Kshs 25,000
Individual Member Kshs 10,000

The Secretariat
P.O. Box 54944 – 00200, Nairobi.
Cell: 0722828802
Email: info@lak.co.ke
 Herewith is a membership form which we would like you to fill in and return to us duly signed and stamped as an
indication of your interest to join the association.

Please get in touch with our Secretariat on 0722828802 for any queries or clarifications.

Thanking you.

Yours sincerely
FOR: LEASING ASSOCIATION OF KENYA

SECRETARIAT

Social media handles;

1. Twitter: @leasing_KE
2. Facebook: Leasing Association of Kenya – LAK
3. LinkedIn: https://www.linkedin.com/company/leasing-association-of-kenya/

The Secretariat
P.O. Box 54944 – 00200, Nairobi.
Cell: 0722828802
Email: info@lak.co.ke