Gossip

Govt Moves to Shut Down 149 Companies 

  • 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.

    Registrar of Companies Joyce Koech speaking at a past TV interview.

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    Citizen TV

    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

    Aerial view of Nairobi CBD

    File

Jay Ndungu

Jay is a computer scientist and journalist with a passion for the intersection of technology and society. He has a background in computer science, developing a deep understanding of the technical aspects of the industry, including programming languages and software development methodologies. Currently, He writes for Nairobi Times, covering a wide range of topics including technology, politics, sports, and entertainment. With his unique combination of technical knowledge and journalistic experience, Jay brings a unique perspective to the stories he covers, able to explain complex technical concepts in an easy-to-understand manner. His work is dedicated to bridge the gap between technology and society, and to make people more aware of the potential of technology to make the world a better place.

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