Finally, changes have occurred in Kenya and now Kenyan youths will have a chance to participate in government business!
Recently the president of Kenya, Hon Uhuru Kenyatta has launched a bill which will help the Kenyan youths to be among the government stakeholders. The bill secures 30% government of Kenya’s procurement business to be done by youths and women in Kenya.
The government has played its part in including the young people and women in Kenya, who in most cases are sidelined or left behind. It’s better to at least try and fail than fail to try. We could altogether succeed and achieve growth for ourselves and for the economic growth of Kenya.
The requirement to Kenyan youths is to register their companies or business with the registrar of companies. Many may think this process is one of the hardest but have good news to them; here are steps of registering your business and company in Kenya.
1. Business Name Search
You must propose a name of your company first. The proposed name must be reserved pending registration. Application for reservation for a company in Kenya is made in writing and must be accompanied with the requisite fee. Names can only be reserved for thirty days. Once a name is approved the applicant should complete a statement of particulars form.
The secret is you should choose a name that will not restrict you in one business.
2. The Memorandum and Articles of Association (MOA)
The MOA should be drawn by a lawyer. The documents set out the following clauses:
· The company name
· Location of registered office
· Company objectives
· Share capital and share value
· The subscribers and their shareholdings.
The document is then submitted to the Company Registry at Sheria House in Nairobi together with:
· Notice of the situation of registered office
· Particulars of Directors & Secretaries
· Declaration of compliance with Companies Act Requirement.
· Statement of nominal capital.
All documents should be duly filled, witnessed and executed, and the prescribed fees paid.
All companies must appoint a qualified certified public secretary as the company secretary. The details should be filled in. They may also consider three names of directors in the date of registration.