Over 150 delegates from 47 countries are participating in the Corporate Registers Forum (CRF) at the Gaborone International Convention Centre in an effort to share best practices to improve operational efficiencies and apply lessons to shape the future landscape of corporate registries.
“I hope this conference will achieve its objectives of putting forward practical and effective recommendations for growing local and global economies as per the conference theme. In addition, I hope that the conference will take into cognizance that with improved registry efficiencies, as well as improved regulatory environments, comes adverse challenges associated with growing economies,” said Bogolo Kenewendo, Minister of Investment, Trade and Investment.
She said, “These challenges include terrorism financing and money laundering through the use of duly registered corporate bodies. I am informed that annually the CRF conference debates on the issues of investor protection, beneficial ownership and the transparency of the information in the registries and I do encourage that the deliberations during this conference should continue with these discussions and include ways of dealing with the aforementioned problems before they reverse the economic gains made by governments around the world.”
According to officials in the 2018 World Bank Doing Business rankings, Botswana is ranked 81st in the world and fourth in sub Saharan Africa. These rankings affect Botswana’s ability to attract the much needed foreign direct investment, which is essential for employment creation and employment growth.
But they contend some notable strides have been made since 2016 with the introduction of a more accessible and efficient system for filing and paying taxes by the Botswana Unified Revenue Service (BURS). A new data customs management system has also been introduced to positively impact cross border trading.
Efforts are also underway to introduce an online business registration system expected to be launched in the first quarter of 2019 with improved data integrity, reduced turnaround times, less paperwork and improved overall efficiency of the Botswana registry.
“We should all appreciate that starting a business and stimulating economic transformation for most, if not all jurisdictions here, begin with corporate registries, as they have the mandate to give a legal status to a business entity and also ensure that the business environment within which the entities operate is conducive for doing business,” said Conductor Paul Masena, Registrar General of Companies and Intelluctual Property Authority (CIPA).
He said, “Corporate registries also play a vital role by ensuring that the business entities themselves operate and conform to good governance and transparency in handling corporate information. It therefore does not come as a surprise that the CRF 2018 Botswana Conference provides an opportunity for corporate registries to interact, discuss, share experiences, exchange knowledge and develop best practice conformity in the space of business registration and compliance, the outcome of which is meaningful contribution to the economic agendas of our respective countries and regions.”
