Angola lowers cost of setting up companies

21 October 2013

The Angolan government plans to reduce the maximum charge for setting up micro, small and medium-sized companies, from 400,000 kwanzas at the moment (around US$4,000) to 10,000 kwanzas (US$100), the Angolan economy Minister said.

Minister Abraão Gourgel explained the decision by saying that current charges made it too expensive “to have a company in Angola,” according to Pan-African news agency Panapress.

The programme to reduce bureaucracy and simplify the process of setting up companies also includes eliminating minimum starting capital, public deeds and statistical registration certificate.

As part of this new strategy the Angolan government wants to expand its “Single Business Office” (Guiché Único de Empresas – GUE) to the country’s 18 provinces, whilst setting up a website and call centre for users.

Minister Gourgel said that the difficulties in setting up businesses in Angola had put it in 172nd place in the 2013 Doing Business ranking as one of the least competitive countries in the world.

According to official provisional figures by the end of last year Angola had 90,000 companies, of which 60,000 were operating at some level in 2012, and 60 percent of the country’s businesses are located in Luanda. (macauhub)