Financial Crime World

KENYA’S COOPERATIVE SOCIETIES: A LOOK AT THE STATISTICS

In Kenya, cooperative societies play a vital role in the country’s economic development. According to the Companies Act, 2015, a company is defined as any entity other than a natural person that can establish a permanent customer relationship with a financial institution or otherwise own property.

The Cooperative Societies Act, 1997 governs the registration and operation of cooperative societies in Kenya. In this article, we will take a look at the statistics on various types of legal persons in Kenya, including:

  • Private limited companies
  • Public limited companies
  • Companies limited by guarantee
  • Unlimited companies
  • Foreign companies
  • Partnerships

Private Limited Companies

As of December 2022, there were 690,222 private limited companies registered in the country. The number of new registrations has been steadily increasing over the years, with a total of 51,842 new registrations in 2022 alone.

Public Limited Companies

Public limited companies are less common than private limited companies, but still an important part of Kenya’s business landscape. As of December 2022, there were 2,532 public limited companies registered in the country. The number of new registrations has been relatively stable over the years, with a total of 477 new registrations in 2022.

Companies Limited by Guarantee

Companies limited by guarantee are a type of non-profit company that is popular among organizations that aim to achieve social or charitable objectives. As of December 2022, there were 5 companies limited by guarantee registered in Kenya. The number of new registrations has been steadily increasing over the years, with a total of 622 new registrations in 2020.

Unlimited Companies

Unlimited companies are relatively rare in Kenya, as they have unlimited liability and are often associated with high-risk ventures. As of December 2022, there were only 5 unlimited companies registered in the country.

Foreign Companies

Foreign companies that wish to operate in Kenya must register with the Companies Registry and obtain a certificate of compliance. As of December 2022, there were 5,343 foreign companies registered in Kenya. The number of new registrations has been relatively stable over the years, with a total of 184 new registrations in 2022.

Partnerships

Partnerships are another type of business organization that is popular among entrepreneurs in Kenya. There are two types of partnerships: general partnerships and limited partnerships. As of December 2022, there were [insert number] partnerships registered in Kenya.

Conclusion

In conclusion, cooperative societies play a vital role in Kenya’s economy, with private limited companies being the most common type of company registered in the country. The statistics show that the number of new registrations has been steadily increasing over the years, with a total of 51,842 new private limited company registrations in 2022 alone.