Nairobi, Aug. 11 -- Kenya is betting on a public register of people who ultimately own or control trusts to help stem the flow of illicit money and boost its chances of exiting the global money laundering grey list.

The Trust Administration Bill, 2026, currently before Parliament, introduces sweeping reforms in the regulation of trusts, including mandatory disclosure of ultimate beneficiaries and enhanced oversight of trustees.

A trust is a legal arrangement where a person transfers property or assets to a trustee who holds and manages them for the benefit of specific beneficiaries.

Trusts in Kenya are currently governed mainly by the Trustees (Perpetual Succession) Act, which does not make it mandatory to disclose beneficial owners. T...