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Half of firms face revocation in secret owners crackdown
The Registrar of Companies has attributed the modest compliance rates of the disclosures to a combination of low awareness levels and the proliferation of dormant entities.
More than half of the 794,741 registered companies in Kenya risk delisting for failing to disclose the identities of their secret shareholders who control more than 10 percent stakes in the firms.
As of last week, 50.28 percent or 399,595 registered companies had not revealed the details, including names, phone numbers and residential addresses, of the beneficial owners to the Attorney-General through the Business Registration Service (BRS).
