Amidst an ailing economy, the Kenyan government has dissolved 116 companies, rendering many Kenyans jobless.
In a Gazette Notice dated January 3, Registrar of Companies Joyce Koech announced that the companies, involved in various products and services, have officially ceased to exist.
“Pursuant to Section 897 (4) of the Companies Act, 2015, it is notified for information of the general public that the following companies are dissolved and their names have been struck off the Register of Companies with effect from the date of publication of this notice,” Koech stated.
The registrar did not disclose the reasons behind the dissolution.
However, the full list of dissolved companies is accessible in Gazette Notice number 94, spanning pages 16 to 19 of the January 3 issue.
Additionally, the notice warned 115 more companies of potential dissolution within three months.
“PURSUANT to Section 897(3) of 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 at the expiration of three months from the date of publication of this Notice,” the notice read.
Koech invited objections, urging those with valid reasons to present evidence to prevent the dissolution.
“The registrar invites any person to show cause why the companies should not be struck off from the Register of Companies,” the notice continued.
Under the Companies Act, businesses can be struck off the register for ceasing operations, contravening the law, or undergoing liquidation.
In the past, companies have dissolved due to strict government regulations and high taxation.
The dissolution of these companies is expected to have significant economic repercussions, especially for employees and businesses reliant on them.
This development comes amid growing unemployment concerns in Kenya. Notably, over 500,000 support staff in secondary schools lost their jobs on January 1, following the transition to Junior Secondary Schools (JSS).
