A fresh wave of unemployment has hit the country after the government, through the Registrar of Companies, announced the closure of 54 firms.
In a gazette notice dated Friday, August 29, the Deputy Registrar of Companies, Hiram Gachugi, announced the immediate dissolution of the companies in line with the Companies Act.
A majority of the companies listed for dissolution engage in survey, fast food and hospitality, medical services, a consultancy, building and construction and merchandise.
Others engage in the production and sale of beauty products, vehicle assembly services, project management and real estate.
According to Gachugi, the companies had been dissolved and their names struck off the Register of Companies with effect from the date of publication of the notice.
Per the law, the Registrar of Companies may dissolve or strike out a firm from the register if it no longer carries out business operations or remains dormant for long periods.
Similarly, the government could declare a company non-existent if the firm consistently fails to file annual returns. It may also be dissolved through voluntary application by the owner.
In a separate notice, Gachugi also announced the government's intention to close 67 more firms in the next three months pursuant to Section 897 (3) of the Companies Act.
The companies earmarked for deregistration mainly engage in cleaning services, building and construction, communications, agricultural services and tours and Safaris.
According to Gachugi, the aforementioned companies have a 90-day window to show cause as to why they should not be removed from the Registry.
"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," the notice read in part.
It went on to add, "The Registrar invites any person to show cause why the companies should not be struck off from the Register of Companies.
