India and China lead the log of foreign companies licensed in Tete this year – Nigeria comes third

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India and China lead the log of foreign companies licensed in Tete this year – Nigeria comes third

3:35 CAT | 18 Aug 2016

File photo / Tete

India and China lead the list of countries with companies licensed by the Single Service Desk (BAU) in Tete province during the first six months of this year.

The BAU is a government public sector reform initiative that seeks to improve public services through simplification, increased flexibility and speed of administrative procedures related to the licensing of economic activities.

During this period, the BAU issued 82 licenses, of which 19 were for Indian investors and 18 for Chinese. Nigerian investors occupy third place with 17 companies.

Portugal, South Africa, Kenya, Brazil, Pakistan, Japan, Somalia, Zimbabwe and Guinea also had companies licensed by BAU, whose the executive director Domingos Macajo reveled that in the same period, a total of 352 permits were issued wholesale and retail trade, services, transport of passengers and goods and industry.

This figure corresponds to a 7 per cent growth over last year. Macajo said that the licensing of the firms would result in the creation of 1,723 new jobs, 1,295 for men and 428 for women.

The director of BAU revealed that his institution had raised over 2 million meticais (about EUR25,000) for state coffers, against 1.602 million meticais (about EUR20,000) in the first half of 2015. “This corresponds to a 26 percent growth, a source of pride for us,” Macajo said.

According to Macajo, one components still missing from the Single Service Desk service is the issue of tax identification numbers, which are still overseen by the Tete area Fiscal Directorate.

Macajo says his institution faces enormous challenges because it still has to combat ignorance of the simplification of licensing procedures on the part of informal sector entrepreneurs.

Source: AIM