Business Registration Services (BRS) on Friday, December 2, listed over 108 companies on the verge of being dissolved for failing to abide by the set regulations.
According to the Companies Act, the firms will be deregistered by February 2023 following the lapse of the three months period.
“Pursuant to the section 897 (3) of the Companies Act, it is notified for the general information of the public that at the expiration of three months from the date of publication of this notice, unless cause is shown to the contrary, the Registrar of Companies shall strike off the names of the companies and they shall be dissolved,” Gazette notice number 14851 signed by Joyce Korir read in part.
In its notice, the Registrar of Companies announced that all individuals who contested the companies’ intended dissolution had three months to lodge their complaints.
The listed companies included Riverfront Estates Limited, Rosslyn Two Rivers Limited, and Rosslyn Two Rivers Limited, located in the affluent upper-market estates in Nairobi.
Companies listed by BRS also vary from those involved in transportation, catering, supplies and even real estate firms.
Others include pharmaceutical companies, construction, liquor, and motor bazaars.
The list comprised Nyali Luxury Executive Apartment, Obsidian Bay Limited, Shikanisha Enterprises, and Shinerary Motors Kenya Company Limited.
Tamel Foot, Sunnybrook General Mart Limited, and World Net Sounds Limited were also listed by BRS. The intended closure is set to render hundreds of Kenyans jobless.
The dissolution notice came as the country recovered from inflation pressure and global recession.
Most companies were also on the recovery path following the August 8 General Election and the effects of the Ukraine- Russia war.
However, according to the recent Kenya National Bureau of Statistics (KNBS) report, the country was on a positive economic trajectory following a slight drop in inflation from 9.6 per cent to 9.5 per cent.