In Summary

  • Registrar confirms Muhinyuza as the bonefide owner online merchant firm.
  • The agency want the tech firm archived Muhinyuza to safe guard the significant foreign investment and further losses.

Register of Companies now says that the beneficial owner of the 400 million shillings contested tech-firm is Rwandeese Investor Desire Muhinyuza.

In court papers the court has been told that the Busineman has a significant economic interests in the business -Stay Online Limited and is considered a beneficial owner,even if he does not hold the legal tittle to the entity’s shares.

In the case the two businessmen Koome Kirimi and Desire Muhinyuza are fighting over the company.

Koome claims to be the sole owner of Stay Online Limited, Kenya
Desire Muhinyuza has dismissed the claims saying that Kirimi was chosen as SOL’s agent in Kenya because of the difficulty for a foreigner to register a company name in the country.

Register of Companies further argues that company should be archived and Desire should be assisted to regain control of the company owner and beneficial owner of the company so as to safe guard the significant foreign investment and further losses.

READ Also: DDP Wants Court Hold Rwandese Businessman’s Ksh 391M as Exhibits In Koome’s Trial

Koome has been charged at the lower court.He is being accused of conspiring to defraud Desire Muhinyuza, a Rwandese National and the beneficial owner of Stay Online Limited of USD 2,619,583.27, being merchant funds by falsely representing himself as the owner of the said funds.He is our in bail

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