Registrar General Office, Mr Chikumbutso Namelo disclosed that Office of the Registrar General is working on establishing a new online data base which will be computerised.
Namelo says that through the online business information system, people won’t need to travel long distances to incorporate a company at the Registrar General’s Office.
He says the rationale behind the three-year period is to ensure that only active institutions are populated in the system.
The exercise, which was bankrolled by the Department for International Development (DfID) in 2010, is being implemented by Techno-brain.
Government through Parliament enacted the Malawi Business Registration Act (MBRA) to replace the colonial Business Name Registration (BNR).
The new registration system, is expected to assist companies to conduct, among others, due diligence and investigations on companies as well as assisting Financial Institutions Units (FIUs) with information.