Senior Partner in the Commercial Employment and IPT Practice
DLA Piper Africa, Kenya
With the unending gymnastics of the Kenya shilling against major hard currencies, employers are increasingly coming under pressure from both existing and prospective employees to pay their salaries in convertible currency, preferably the US dollar or Sterling Pound.
The key driver for this preference, which is gradually becoming a deal breaker in recruitment negotiation, is the need to cushion employees who have financial obligations abroad such as payment of college fees, mortgage, investment schemes or medical bills against the impact of the weakening Kenya shilling against the major world currencies.
