Zimbabwe will soon introduce an electronic registry for the establishment of domestic and foreign companies in line with the provisions of the proposed new companies act.
The old companies act has seen Zimbabwe lagging behind on investment and development.
The Minister of Justice, Legal and Parliamentary Affairs, Cde Ziyambi Ziyambi told captains of industry and commerce the draft companies and other business entities bill will position Zimbabwe in line with global digital registration trends.
“We are really doing our best to achieve the real elementary aspects to unlock value for investors,” said Cde Ziyambi.
A business consultant Mrs Phillipa Phillips said delays in the amendments of the bill are hindering investments.
“We hope and anticipate further growth in business viability,” said Mrs Phillips.
There is also need to ensure the new companies act will protect interest of investors, notes ease of doing business coach Professor Ashock Chakravarti.
“What more do we expect apart from just monitoring progress of the bill,” he said.
According to the latest World Bank annual ratings, Zimbabwe is ranked 159 out of 190 economies on the ease of doing business index