The government on Friday revealed the dissolution of 32 Kenyan companies dealing in different lines of products and services, a decision that added to the economic woes currently experienced by Kenyans in the wake of job cuts and retrenchments.....CLICK HERE TO READ THE FULL ARTICLE>>>
The government, via a gazette notice on Friday, September 6, 2024, announced that the companies will close down their operations by December this year if no one objects.
‘‘The Registrar of Companies gives notice that the names of the companies specified hereunder shall be struck off from the Register of Companies at the expiry of three (3) months from the date of publication of this Notice,’’ the notice read in part.
The government, through the Registrar of Companies Joyce Koech, at the same time called on Kenyans with any reservations in regard to the dissolution of the mentioned companies to show cause as to why they should not be dissolved.
‘‘The Registrar of Companies invites any person to show cause why the companies should not be struck off from the Register of Companies,’’ Koech stated.
The dissolution of the companies will see many Kenyans suffer either directly or indirectly, especially those whose livelihoods depend on the companies.
Many companies have in the past few years sent their employees home, citing high business operational costs in Kenya.
According to the Companies Act, a company may through its directors or a majority of them apply to the Registrar of Companies to be struck off the register of companies as it ceases its operations and existence.
Other reasons why a company might be dissolved include situations where the company could be carrying out any business or is under liquidation.
According to data from tax agencies in the country, many companies that have dissolved in the past one year did so because of the stringent regulatory and taxation measures put by the government.
Other companies were also reported to have gone that route of dissolution because of the completion of their short term objectives.
The government however did not indicate why the 32 Kenyan companies were dissolving via the notice….CLICK HERE FOR MORE ARTICLE>>>
