PACRA's presentation on Economic & population growth, implications for registries

1. Wilson Banda
Ac-ng Assistant Registrar
Patents and Companies Registra-on Agency
Zambia.
ECONOMIC AND POPULATION GROWTH:
IMPLICATIONS FOR REGISTRIES -
The Zambian Experience
Under the theme
“Corporate Registries, A Critical Vehicle for Global Economic Growth”

2. PRESENTATION LAYOUT
• A BIT ABOUT ZAMBIA
• ZAMBIAN ECONOMIC GROWTH
• ZAMBIAN POPULATION GROWTH
• IMPLICATIONS FOR THE REGISTRY
– MODERNISATION
– LEGAL REFORMS
– INCREASED ACCOUNTABILITY
– ENHANCED REGULATORY FUNCTIONS
– SOURCE OF INFORMATION
– INCREASED COLLABORATIONS AND COOPERATIONS
• CHALLENGES
• SOLUTIONS
• CONCLUSION

3. Zambia - Derived from the Zambezi River
A BIT ABOUT ZAMBIA
LOCATION Southern Central Africa 15-25 S, 28-17 E
AREA 752,618 km²
CAPITAL Lusaka
POPULATION AND GROWTH RATE 16.59m ‎(2016) 3.2%
OFFICIAL LANGUAGE English
LITERACY 64%

4. A BIT ABOUT ZAMBIA..cont
h<ps://www.victoriafalls-guide.net/zambia-geography.html
Home to the one of the 7 natural wonders of the worlds :
The Mighty Victoria Falls, locally known
as Mosi-o-Tunya ( the smoke that thunders!!)
h<ps://www.abercrombiekent.com/tours/
h<p://www.zambiatourism.com/des-na-ons/na-onal-parks/zambia-map

5. ZAMBIAN ECONOMIC GROWTH
Growth of the Zambian economy was estimated to increase to 4.1% in
2017 and further to 4.5% in 2018 and 4.7% in 2019, from 3.4% in 2016.
Source http://www.worldbank.org/en/news/press-release/2017/06/29/zambia-economic-brief-economy-continues-its-recovery-in-2017
h<p://www.zambiainvest.com/economy

6. ZAMBIAN POPULATION GROWTH

7. IMPLICATIONS FOR THE REGISTRY
2. LEGAL REFORMS
1. MODERNISATION OF SYSTEMS AND PROCESSES
3. INCREASED ACCOUNTABILITY
4. ENHANCED REGULATORY OBLIGATIONS
5. SOURCE OF BUSINESS INFORMATIONS
6. INCREASED COLLABORATIONS AND COOPERATIONS
Economic and Populadon Growth has necessitated
the following:

8. MODERNISATION
• Free online business verifica-on
• Full online registra-on of businesses
• Electronic Name Clearance and Searches
• SoKcopy Cer-ficates sent via email
• No Change Annual Return Form
• Electronic signatures for cer-ficates
• Opening of Regional Offices in every Provincial Capital
• Presence in Regulatory Services Centres (formally one stop shops)

9. Simplifica-on of Provisions in Corporate Laws and Regula-ons
LEGAL REFORMS
Rescue mechanisms for companies in financial distress:
Enhance compliance and corporate governance
• Simplifica-on of language in newly enacted laws
• No need for qualified company secretary and auditor for small companies
• Recogni-on of electronic records and communica-ons
• Removing from the Companies Act provisions dealing with Insolvency law
• Introduc-on of Business Rescue Administrator
• Introduc-on of provisions on cross border insolvency
• Codifica-on of du-es of directors and secretaries in the New Companies Act
• Declara-on of beneficial ownership
• Codifica-on of obliga-ons and liabili-es of shareholders

10. INCREASED ACCOUNTABILITY
Agency is no
longer a nodce based
or repository registry.
Now has regulatory
funcdons

11. ENHANCED REGULATORY
FUNCTIONS
Accredita-on of insolvency
prac--oners
Determine corporate ma<ers with the
help of assessors
Powers to verify and ascertain
beneficial ownership before registra-on
Powers to impose administra-ve
penal-es rather than have Court fines

12. SOURCE OF INFORMATION
Sta-s-cs requested for include:
q Registra-ons by sector/ town
q Male/female entrepreneurs
q Prominent sectors driving new registra-ons
q Town or district with most registra-ons
Due to automadon and modernisadon, the registry now
serves as a rich source of economic and demographic data.

13. INCREASED COLLABORATIONS
AND COOPERATIONS

14. CHALLENGES
The following are some of the challenges that have been
encountered:

15. SOLUTIONS
Cost Sharing of ICT infrastructure with
other Government Agencies
Training of the Business Community on
the use of online services countrywide

16. In responding to Zambia’s economic and
popula-on growth, the Agency has had to
innovate on its service delivery while ensuring
that it con-nues to provide a customer-focused,
efficient and effec-ve public service.
CONCLUSION

17. www.pacra.org.zm
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