Implementation of Section 93A of the Companies Act 2015

The Kenya Kwanza Government promised to implement Section 93A of the Companies Act 2015 and its regulations to make it easier for organizations doing business with the government to share information about their beneficial owners.

• On 17th October 2024, The Business Registration Service (BRS) issued a notice requiring all companies in Kenya to prepare and maintain a register of Beneficial owners by 30th November 2025. 
• Subsequently, BRS issued a further notice on 11th April 2025 informing companies that had not updated their beneficial ownership status that it had formed a reasonable belief that the said companies were no longer carrying on business in Kenya. Consequently, the companies were granted a further thirty (30) days to confirm whether or not they were active and avail evidence of the same, failing which BRS would have their names struck off of the register of companies.