State still owes private sector companies 29 billion meticais - CTA
Lusa (File photo) / A view of Maputo
The Official Gazette [Boletim da República] of Mozambique, in which the entities authorised to do business in the country are promulgated, will from now on be issued four times a week, the government announced yesterday.
The increase in the number of publications “is part of a set of reforms agreed between the government and the private sector to improve the business environment in Mozambique,” it said in a statement.
The private sector “systematically complained that it was losing money because of the slowness in its publication in the official gazette,” the statement adds, indicating as a goal that the National Press publish the entities legally authorised to do business in the country daily.
The publication of legal entities was previously made only three times a week.
The process of creating a company has several steps. Once a public deed has been signed and a certificate and extract issued, the company’s provisional registration, with the names of its managers or administrators, takes place at the Commercial Registry Office.
Publication in the Official Gazette then follows and, in the Mozambican legal system, the licensing of entities takes effect only once this takes place.Source: Lusa