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President William Ruto has dissolved more than 200 companies operating in Kenya, effective 2025.
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The Business Registration Service published a list of companies in Gazette Notice Number 95 on December 11, 2024
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Records indicate that more than 100 firms, listed in the same notification published by the Registrar of Companies Joyce Koech, face the prospect of being shut down.
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The gazette notice provoked a range of reactions from Kenyans, with some condemning the government over its decision
With a career spanning over six years in financial, business, technology, and climate reporting, .co.ke journalist Wycliffe Musalia has developed extensive knowledge on both Kenyan and global economic trends.
Citizens of Kenya have expressed various opinions after the government announced plans for shutting down businesses in the year 2025.
In a December 11, 2024, gazette notice numbered 95, President William Ruto’s government revoked the registrations of 202 organizations.
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The Registrar of Companies, Joyce Koech, from the Business Registration Service, has listed the businesses that have been closed, serving a three-month notice to 115 companies to be dissolved.
The company owners have been advised by Koech to take swift action and justify why their companies should not be dissolved within the three-month timeframe.
The state corporation, however, did not clarify the reasons behind the dissolution of these companies, thereby sparking a debate among Kenyans.
Media outlets and Kenyan citizens publicly expressed their opinions about the government’s decision to shut down several companies without warning. The Nairobi Retail Association stated that the closures resulted in significant job losses and affected economic stability. An individual expressed concern that this measure would lead to public discontent. The Kenya National Chamber of Commerce and Industry argued that the closures would not necessarily realize the desired outcomes. There have been several municipal and national protests against the decision.
Some criticized the government for promoting foreign employment opportunities instead of protecting local employment through a stable business environment.
@Banks_Banksg said:
“MBELE IKO SAWA!!” has become the anthem of Ruto’s regime, the Labour Ministry, now rebranded into a premier job brokerage agency.
@C_Roiginson argued:
Influence of ill-conceived financial policies caused by IMF’s Structural Adjustment Programs (SAPs).
@HseTonny asked:
When the environment is not favorable for doing business, what can you expect?
@kamau_waRally claimed:
The majority of these are inactive firms that have not submitted their tax returns, and the registrar is scheduling them for removal – please be aware of the pending 90-day notice of intended removal.
@djdougze noted:
Although the division responsible for making key decisions within the government asserts that the economy is performing satisfactorily and has become more stable.
@elmarcadoazul said:
Ugh, what a distressing situation! Comrades, let’s continue to develop skills like Programming, Data Analysis, Digital marketing, Web Development, Copywriting, and Graphic Design.
@SilkRoadKenya wondered:
I’m not surprised. It seems the political elite are more interested in pursuing their own interests rather than crafting policies that benefit the public at large.
@alinory_KWENA alleged:
It’s instructive to note that several of these companies were compelled to close due to their significant involvement in activities that are arguably illicit or pose a threat to national security and the economy. Some companies simply rebranded and re-established themselves accordingly.
@HseTonny said:
Key Performance Indicators (KPIs) suggest the economy is performing poorly, but contrary to this, we’re told the economy is doing well. Considering the price of Unga, which has increased due to the good rains we’ve seen, if this trend continues, our country risks slipping into economic recession.
@githiori argued:
The meager disposable income that companies have is being siphoned off to pay the Kenya Revenue Authority, and employers are bearing the brunt of increased remittances (SEO and housing levy). Unfortunate that all this is enabling luxurious lifestyles for the political elites.
