Ipsos-Synovate directors risk jail, hefty fines over takeover

David Somers of Ipsos speaks during a press conference in Nairobi announcing the acquisition of Synovate on October 13, 2011. PHOTO | STEPHEN MUDIARI | FILE

What you need to know:

  • Ipsos bought the entire stock of Synovate whose Kenyan unit remains the largest research firm in the country
  • The directors face a jail-term of five years, a fine of up to Sh10 million and CAK can also impose a financial penalty equivalent to 10 per cent of a firm’s sales

Directors of research firm Ipsos-Synovate Kenya face jail terms and multi-million-shilling fines for failure to seek regulatory approval of the firm’s acquisition of its predecessor Synovate.

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