Parliament has revealed that the Companies and Other Business Entities Bill (HB 3 of 2018), currently before the National Assembly will ease the process of registering new companies as the process will now be done electronically, thus reducing the turnover time.
Addressing Chief Executive Officers during a breakfast meeting organised by CEO Africa Round Table on Thursday, Speaker of Parliament, Advocate Jacob Mudenda said the Bill is in line with the policy of the Ease of Doing Business as well as the ‘Zimbabwe Is Open For Business’ mantra being promoted by the new dispensation.
“The registration of companies through the enactment of the Bill will be done via electronic registration. I understand that under the current law, the registration of a company could take up to three months or more while in other countries in the region it takes at best three days, and two weeks at worst.
“The Bill is in line with the policy of the Ease of Doing Business as well as the national mantra that Zimbabwe Is Open For Business,” said Mudenda.
Speaking during the same event, CEO Africa Round Table chairman, Oswell Bimha urged Chief Executive Officers and Directors to be up-to-date with the changes to ensure shared business and economic gains.
“As you may be aware, the government is in a process of revamping the Companies, Deeds and Intellectual Property Department and also amending the opaque Companies Act so as to stimulate local and foreign investment and improve the ease of doing business, and it is of great paramount for CEOs and directors to be up-to-date with the changes to ensure shared business and economic gains,” said Bimha.
