AfriPulse
The government has announced the closure of 60 more companies, with 80 others set to follow suit as the purge of firms persists.
In a gazette notice released on Friday, Hiram Gachugi, the Deputy Registrar of Companies, announced the closures under Section 897(4) of the Companies Act.
“PURSUANT to section 897(4) 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 with effect from the date of publication of this notice,” the notice read.
Following the official announcement, the listed companies have effectively been dissolved, and their names have been officially struck off the Register of Companies, effective from the date of publication.
A photo of a man at a manufacturing company
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Alliance Employment Services
Effectively, the companies will no longer be allowed to conduct business, enter into legal contracts or operate bank accounts under their previous names.
The list of the affected companies cuts across various industries, including technology, healthcare, shipping, real estate, education and energy.
The gazette notice did not reveal reasons for the dissolution of these businesses, although under Kenyan law, companies can be deregistered for various reasons ranging from failure to file annual returns to non-compliance with statutory requirements.
In some common cases, companies are deregistered because of inactivity over a prolonged period, while others voluntarily apply for closure.
Once a company has been struck off, the assets it still possesses become bona vacantia, meaning they are considered ownerless, and the state has the power to claim them. To avoid this, companies are usually advised to distribute their assets before dissolution.
Since the companies have been struck off, they cannot be revived or re-registered under the same name unless a new application is submitted and approved by the Registrar of Companies.
In the same gazette notice, the Registrar of Companies also listed 80 companies which are in the process of getting struck off under the provisions of Sections 897(3) and 897(4) of the Companies Act.
The dissolution of the companies came just days after the cessation of operations for 75 others was formalised on September 5.
Kenyans lining up for a job interview in Nairobi in 2019.
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Coletta
Source: Kenyans.co.ke | Read the Full Story…
