THE technical working group on starting business under the Private Sector Development Reform Programme (PSDP) has recommended that two sections under the law for registration of business companies be abolished.
The sub-committee, which is one of the technical working groups under the Doing Business Reform committee of phase two of the PSDP, has concluded that sections 15 and 18 of the Patents and Company Registration Office (PACRO) Act are no longer required because they delay the registration process.
Technical working group chairperson, Agness Bobo-Banda said the committee had already submitted to the Ministry of Justice to have the sections eliminated.
Ms Banda, who is the PACRO registrar, said in Lusaka the sections address the minimum working capital requirements, but the committee felt that the purpose for such requirements was no longer desirable.
In the medium terms, the working group recommended the assignment of unique company registration numbers, consolidation of Government approval points by creating a platform to link all agencies in order to enhance accessibility to information, and making online company registration possible.
Meanwhile, the technical working group on registering properties is working on reducing the number of days it takes to process documents for registering properties and availing the forms online.
Chairperson Lynn Habanji said there were challenges in the decentralisation of the land and deeds processes and standardising property transfers.
And chairperson of the trading across borders technical working group, Yakomba Yavwa said the committee recommended the expansion of the customs accredited client programme to small and medium traders to enhance public education and awareness, review regional best practices, and review and optimise the usage of mobile scanners.
Another short-term reform would be to investigate how to streamline the document requirements for trading by engaging all border agencies on their legal mandates, and reviewing the legal basis of the identified import and export documents.
In the medium term, the mandate includes measuring and reducing delays at borders, and enhancing port and customs cooperation with neighbouring countries.
It will facilitate trade through electronic exchange of information with them.
The committee on getting credit, chaired by Mildred Stevenson, is considering including all commercial and other institutions in the operationalisation of the Credit Reference Burea to enable all lenders to have access to full information about potential clients.
It is also suggesting the creation of a unified collateral registry.
[Times of Zambia]
Registering a Company should an easy process which should last less than 30 minutes, Less paper work and less fee, These so called experts seem not to know what to do, I guess you can’t give what you don’t have, Shame on you Zambians in America registering a company is as easy as eating your breakfast in the morning, Zambian experts when you put all things together thinks below a high school dropout from South Side Chicago.
Yaba! Why did it have to take them so long to realize it?
On another note ba LT. Why do I get different flags on different days when I am not even in those countries?