Government shuts down 116 companies amidst unemployment crisis
Unemployment looms as the government shuts down 116 companies and warns of more dissolution
Unemployment looms as the government shuts down 116 companies and warns of more dissolution.
While the economy continues to bite, more Kenyans have been rendered jobless after the government announced the dissolution of 116 companies.
In a Gazette Notice dated January 3, Registrar of Companies Joyce Koech notified Kenyans that the companies dealing in different products and services have ceased to exist as businesses.
“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 revealed.
The registrar of companies did not reveal the reason why the companies had been dissolved. The full list of the dissolved companies may be found on January 3’s issue of the Gazette notice number 94 from page 16 to page 19.
In the same notice, Koech warned 115 more companies, informing them that they would be dissolved within the next 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 in part.
The Registrar of Companies has invited anybody with an objection to the intended dissolution to present themselves with reason and evidence as to why they should not be dissolved.
“The registrar invites any person to show cause why the companies should not be struck off from the Register of Companies,” the notice continued.
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In the Companies Act, a company may, through its directors or the Registrar of Companies, apply to be struck off the register of companies as it ceases its operations and existence.
A company might be dissolved in situations where it could be contravening the law or is under liquidation. Many companies that dissolved previously did so due to the stringent regulatory and taxation measures put forth by the government.
The dissolution of the 116 will see many Kenyans suffer either directly or indirectly, especially those whose livelihoods depend on the companies.
It comes in the wake of massive unemployment facing the country. Over 500,000 support staff working for the government in secondary schools across the country lost their jobs on January 1 as part of new changes occasioned by the transition to Junior Secondary Schools (JSS).
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