The government announced plans to dissolve 149 companies operating in the country.
In a notice published on Friday, December 9, the Registrar of Companies, Joyce Koech, announced that 82 companies out of the 149 had been dissolved.
The companies were reportedly ineligible to conduct any business from the publication date.
The list included various companies in different sectors, such as schools, manufacturing and road construction firms.
Registrar of Companies Joyce Koech speaking at a past TV interview.
Some included the Keneddy International Group of Schools, Naja Road Works Company Limited, and Sixo Sweets Corner Ltd, among others.
Additionally, she stated that 67 companies would be shut down in the next three months, with the owners given conditions to be met for the decision to be reverted.
“Pursuant to section 897 (3) of the Companies Act, 2015, 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 months from the date of publication of this notice.
“We invite any person to show cause why the companies should not be struck off from the Register of Companies,” read the notice in part.
More companies included in that list were Aljazeera Logistics Ltd, China Railway Number Five Engineering Group Company Ltd and Diani Unga Ltd.
On the other hand, the High Court declared two company owners bankrupt, putting the enterprises at risk of closure.
While the reasons for the shutdown were not specified, companies can be dissolved because of being dormant and failing to adhere to government regulations.
The notice by the government came days after another notice was issued on the dissolution of 108 companies for failing to adhere to various regulations.
Closure of enterprises has been witnessed in recent years given the stated on business owing to the rising inflation and the global recession.`
In early 2022, the government also warned of a plan to dissolve 108 companies for failing to adhere to various regulations.
Aerial view of Nairobi CBD