Malawi has, over the years, not been performing well on the World Bank doing business reports with its ranking almost always dismal.
For example, in the recent doing business report, Malawi stood at 157 in the ranking of 189 economies on the ease of starting a business, a dent on the country’s ability to attract potential investors.
The performance, however, does not mean Malawi has not started projects to improve the situation. Government is implementing an online registration of businesses which is contained in the Business Registration Act as part of the business reforms.
The Ministry of Trade and Industry is currently implementing the project to improve, ease and reduce the cost of doing business in the country, which is expected to go live by May end.
“The ministry is putting into place online registration project, which is in its final stage. We have done all neccessary requirements. We have already identified a bank to use for the payment system and we are currently looking for good Internet connectivity. We want to make sure that there are no hiccups in the business environment,” said Ministry of Industry and Trade, Spokesperson Wiskes Nkombezi in an interview.
According to Nkombezi, the online registration of companies will make it possible for people to apply for businesses name in the comfort of his or her office, home and Internet cafe making the application process much quicker there by easing the starting a business process.
“People will no longer travel long distances to have their businesses registered. Our aim is to make starting up a business simple and faster. By introducing such technologies, we are assured that it will improve doing business environment,” he said.
Nkombezi further said government will continue carrying out various reforms in business and economic laws and policies to improve the business environment in the country.