Thousands Face Uncertainty as Govt Begins Closure of 742 Companies
Over the last few months, hundreds of companies have closed down, with some due to their inability to pay debts and sustain operations...
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The Kenyan government has announced plans to close 742 companies, a move that will put hundreds of jobs at risk due to various economic pressures. The Registrar of Companies, Damaris Lukwo, published a gazette notice on Friday, giving a three-month period for objections before the dissolutions take effect in February next year.
- 742 companies are slated for dissolution by the Registrar of Companies.
- The primary reasons for closure include completion of purpose, inactivity, inability to pay debts, mismanagement, shareholder stalemates, and breaches of statutory obligations such as failure to file annual returns.
- The companies have a three-month window to raise valid objections before their names are struck off the Register of Companies, after which they can no longer conduct business or enter legal contracts.
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Govt to Close 742 Companies, Privatize KPC, and Pay Ksh 230M to Ex-Pan Paper Workers - November 2025
The Kenyan government has announced plans to close 742 companies, with the Registrar of Companies publishing a gazette notice giving a three-month period for objections before the dissolutions take effect in February. In a separate move impacting a state-owned enterprise, President William Ruto announced that Kenya will privatize the Kenya Pipeline Company (KPC). Kenya plans to divest 65 percent of its stake, allowing Uganda and other regional investors to co-invest after a listing on the Nairobi Securities Exchange. Additionally, the government has released Ksh 230 million to former employees of Pan Paper Mills. This payment addresses long-standing arrears and is considered a significant step toward reviving the region's industrial economy.
