Why State wants firms to reveal beneficial owners

An employee with cardboard head working with book and computer while sitting in an office.

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New disclosures show that over half of registered companies in Kenya face delisting due to their failure to disclose beneficial owners of their business, raising questions on why so many firms are yet to comply. Here is a breakdown of the law that introduced this requirement and why it was instituted in the first place.

What is a beneficial owner?

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Note: The results are not exact but very close to the actual.