Grow Eswatini:
Reforms for better business.

Media

MORE companies have been reg­istered by the ministry of commerce this year when compared to last year.

It has been revealed that this was as a result of the economy opening up.

According to the Ministry of Commerce, Industry and Trade fourth Quarter Performance Report for the 2022/23 financial year, a total of 466 more companies were registered in the fourth quarter of the year 2022/2023 bringing the total to 3,524 compared to 3,058 of the previous year.

The registrar of companies depart­ment headed by Msebe Malinga, on the other hand, deregistered 38 com­panies this year. The Minister of Commerce, Manqoba Khumalo, in the report said his depart­ment continued to support the start­int ofbusinesses in the country through the legal registration of companies.

"In this financial year we note an increase in the total number of regis­tered companies compared to the total number of companies registered in the previous year," said Khumalo.

He stated that on the total registered companies, 3,367 were private, 12 were public, 250 were non-profit mak­ing associations and 12 were foreign or offshore companies.

"8,128 applicants have used our online company registration services, and a total of 2,218 users have trans­acted through the new electronic com­pany payment system," explained the minister.

Process

Khumalo said the department was in the process of transforming its ser­vices into a complete digital business registry and with assistance from the New Zealand government. He said during this period under review the department had submitted the Companies Draft Bill at the attorney general's office for repeal of the current Swaziland Companies Act No.8 of 2009, adding the draft bill had been approved.

"The department has also developed an electronic queue system for the effi­cient and systematic management of our clientele and efficient service deliv­ery," he said.

He explained that the mission for the department was to create and support a simplified business environment through the introduction of digital plat­forms for company registration.

"The impact of such is reflected in the narration above as presented. Over the years, we experience an increase in the number of registered compa­nies," said Khumalo.

He also stated that there was an improved registration and collection of company registration revenue as the continued introduction of digital platforms had improved performance and simplified processes for doing business.

Encounter

"The department did, however, encounter challenges which include not having sustained network con­nectivity and manual back-end process­es and procedure," revealed Khumalo. The minister added that the depart­ment's planned activities for the next year were to have the Companies Draft Bill submitted to Parliament and the design of the business registry to be commenced and to continue to regis­ter and deregister companies.