E-registering of companies to increase transparency

By Yolanda Moyo

THE Registrar of companies is set to embark on an e-registration of companies as it seeks to foster transparency and accountability in its operations.

As part of efforts to keep abreast with the latest trends in availing public information, the Registrar of Companies is set to unveil an e-register in line with the second republic’s key deliverables.

This was revealed by Chief Registrar of Companies, Willie Mushayi in Bulawayo this Thursday on the sidelines of a capacity-building initiative for journalists and members of parliament on tax incentives and beneficial ownership disclosure.

“An e-registrar will help in increasing transparency within the registrar so that people can have access to the registrar of companies from the comfort of their homes,” said Willie Mushayi, Chief Registrar of companies.

With the Second Republic making strides in fighting corruption, the beneficial ownership under the new Companies Act has been described as a step in the right direction to improve efficiency in tax collection.

“This is a move to deter illegal activities, money laundering, tax evasion, illicit financial flows and corruption,” he said.

“There is a need for the public to know who are real owners of a certain company as this helps make people accountable for their actions,” said Shamiso Mtisi, the Deputy Director, ZELA.

Under the ‘Zimbabwe is open for business mantra,’ a transparent beneficial ownership registry is key in marketing Zimbabwe as a safe destination for investment and promoting confidence in the economy.