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Gov’t Dissolves 51 Companies As Hundreds Of Kenyans Stare At Joblessness
Hundreds of Kenyans face job losses after the government, through the Registrar of Companies, announced the dissolution of more than 50 companies.
In a gazette notice dated Friday, March 6, the Registrar of Companies, Damaris Lukwo, revealed that 51 companies had already been dissolved in line with the Companies Act.
“Pursuant to section 897 of the Companies Act, it is notified for the information of the general public that the following companies are dissolved and their names have been struck off the Register of Companies,” Lukwo said.
The dissolved firms include those that engage in construction logistics services, general contracting, engineering, consultancy, steel fabrication and the sale of vehicle spare parts.
Others provide tour and travel transport services, Insurance brokerage, financial advisory, investment management, dental care, wholesale supplies and procurement services.
Their dissolution follows applications and administrative review processes, effectively terminating their legal existence as corporate entities as of the date of publication.
While Lukwo did not explicitly state the reason for their dissolution, such actions always happen when a firm fails to comply with legal requirements, which often involves failing to file annual returns or being inactive.
A company may also be struck off the registry through a court order when a judge orders its liquidation.
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At the same time, Lukwo announced plans to strike more than 300 companies off its register, a move that could trigger another wave of job losses.
According to the registrar of companies, 302 firms would be removed from its register beginning in June this year, unless they explain, within three months, why they should remain registered.
“Pursuant to the Companies Act, the Registrar of Companies gives notice that the names of the companies specified hereunder shall be struck off from the register of companies,” read part of the notice.
“The companies shall be struck off the registry at the expiry of three months from the date of publication of this notice and invite any person to show cause why the companies should not be struck off from the registry,” it added.
Gov’t Dissolves 51 Companies As Hundreds Of Kenyans Stare At Joblessness
