Online registration services of Tanzania companies will be offered from next month, as the country strives to a more digitized economy.
Technology and innovation has prompted businesses to adopt the new wave of the era by being digitized for effectiveness. A number of East African countries are striving to become ICT-based economies with the competitive dynamics of change.
Companies in Tanzania will have their records in database from next month when the online registration takes place, according to the business registration and licensing agency (BRELA). The registration system is ready and will commence work in February.
The system will enhance online registration of various businesses accompanies with post-registration services to carry out its obligations effectively. This will ease the tracking of records and ensure there is no foul play in the market.
The services that will kick off on the first day of February, aims at improving the ease of doing business in the country, after World Bank ranked the state low in its latest annual ratings. This has prompted the Government to align itself with the path of development to improve its rank to remain competitive in the East African Community (EAC).
The Business Report helps states to be aware of their weak points and make adjustments to improve their business environment and create an ecosystem of sustainability and productivity for investors.
According to the agency, there are requirements for the use of the system or access of the post registration services. Users must be able to produce National Identification Number (NIN) which is obtained from the National Identification Authority (NIDA).
For the locals seeking to be shareholders or directors of a local company, they should have a tax Identification Number.
It is indeed a smart move for the country with an expected improvement in the business field to keep track of the companies and as well get acquainted with challenges they could be facing to help them curb them.