Thousands Of Jobs Hang In The Balance As Government Strikes 72 Firms Off The Official Register

Thousands of Kenyans could lose their jobs after the Registrar of Companies dissolved 72 firms and earmarked another 68 for possible closure within the next three months.

In two Gazette notices published on Friday October 23 Deputy Registrar of Companies Hiram Gachugi confirmed the move. The 72 companies were struck off the register while the other 68 were given three months to explain why they should not face the same fate.

The number of workers affected remains unclear. The Registrar did not disclose whether the companies were actively operating or how many people they employed.

The affected businesses cut across real estate and construction as well as healthcare and energy. Others operate in technology and transport while some deal in hospitality and agriculture.

Among the dissolved firms are businesses in water purification and solar energy. Others handled property development and textiles while some worked in media production and education.

The Registrar said the 72 companies were dissolved with effect from October 23. Their names were officially removed from the Register of Companies under section 897(4) of the Companies Act.

The 68 companies facing removal include players in logistics and retail. Any person with an interest in them has three months to explain why they should remain registered.

The notices gave no reasons for the dissolutions. Under the law companies can be struck off through voluntary applications or action started by the Registrar.

The latest move comes barely a month after the Registrar dissolved 176 companies in September and listed another 155 for possible removal.

Once dissolved a company ceases to exist as a registered legal entity unless it is later restored under the Companies Act.

https://x.com/Kenyans/status/2113959355678666950

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