Bipa to deregister non-complying companies

Acting CEO of the Business and Intellectual Property Authority (Bipa), Ainna Kaundu, yesterday announced the commencement of mass deregistrations of companies and close corporations that have failed to comply with the beneficial ownership disclosure requirements.



Starting 29 August, the first 1 000 entities will be struck off the register, with a further 1 000 to follow each month, she said.



Kaundu highlighted the serious consequences of deregistration, including loss of legal status, frozen bank accounts, cancelled contracts, forfeiture of assets to the state and reputational damage.

- Eliot Ipinge