Registrar fees and licensing weaknesses affected Mozambique’s ‘Doing Business’ rating

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Registrar fees and licensing weaknesses affected Mozambique’s ‘Doing Business’ rating

4:31 CAT | 03 Nov 2016

File photo / A view of Maputo

The Minister of Industry and Trade Mozambique said yesterday that the rise in notarial and registrar fees and weaknesses in licensing were the main reasons for the slide in Mozambique’s ranking in the World Bank business environment index.

“Company registration requirements and the increase in fees for notarial services affected Mozambique’s position,” Max Tonela told a Financial Times conference in Maputo.

Another factor that undermined the country’s position was deficiencies in the system of company licensing and registration, as well as the fact that the ‘Doing Business’ index had failed to take into account the reduction in the time taken to access electricity supply and the adoption of a law on private credit management centres.

“There are reforms that were not recognised, one of which is the access to electricity and another the law on credit management centres,” Tonela said.

Tonela said that the Mozambican government did take the World Bank indicator into account and would continue to deepen and accelerate reforms to make the country more attractive for investment.

Mozambique fell three places to 137th place in the World Bank business environment ranking released last week. Mozambique has fallen eight positions in the last two years, with the report’s latest edition concluding that there was regression in virtually all the aspects analysed.

Source: Lusa