Registration at the statutory pension fund National Social Security Authority (NSSA) has also been reduced from 14 days to 15 minutes, while registration with the Zimbabwe Revenue Authority (Zimra) has also been cut from 14 days to 30 minutes, according to Zimbabwe Investment Authority (ZIA) chairman Nigel Chanakira.
Chanakira, one of Zimbabwe’s leading black bankers and founder of the first locally-owned commercial bank in the 1990s, took to Twitter to laud the reforms.
“Truly, in my 22 years doing business in Zimbabwe I’ve never seen such remarkable and amazing movement by the entire government of Zimbabwe to reduce costs and time,” Chanakira tweeted.
At $250, the cost of company registration in Zimbabwe still remains high compared to regional peers. Rwanda, for instance, charges the equivalent of $20 to register a company for both foreign and local investors.
Progress in other thematic areas such as taxes, trade, insolvency procedures, getting credit, enforcing contracts, property registration, construction permits and minority investor protection is also under review at the ongoing workshop.-The Source
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