Mogadishu, Somalia 30-03-2022: -The Federal Government of Somalia today launched the Somali Business Registration System (SBRS) which will modernize and speed up the issuing of legal documents to all those interested in opening a business in the country. The SBRS aims to register at least 5000 businesses, of which 30 % will be women-led, by the year 2025.
The new system, (https://ebusiness.gov.so), developed and implemented by the Ministry of Commerce and Industry (MoCI), is part of Somalia’s wider strategy to strengthen its private sector and encourage economic growth and job creation. Reducing lengthy registrations and licensing procedures will save businesses time and operational costs, especially smaller and informal businesses seeking to formalize their operations. The system which is being developed by the Ministry of Commerce and Industry was first piloted last year, with over 700 businesses registered to date.
“We are happy to improve the delivery of the ministry’s service to the business community and anyone who is interested to register their businesses in the country,” said H.E Khalif Abdi Omar Minister of Commerce and Industry. “We are committed to speed the business registration and licensing services offered by the ministry in order to encourage the business community and entrepreneurs thus creating a conducive business environment.”
The SBRS will serve a major part of automating the government services through a One-Stop-Shop. The SBRS is a web-based portal that offers a range of services, including reserving a business name, registering a new business, and changing the particulars of an existing business. Additionally, SBRS provides a variety of resources such as relevant law and regulations, online user guides, and information on registration and licensing fees, among other resources and can be accessed from any device with internet.
The online system builds on the strong policy reforms that have enhanced the legal operating framework that resulted in the passage of company law and its related implementing regulation. The online portal is the latest initiative by Somalia designed to strengthen the business environment by enabling improved access to government service by businesses. The system marks a major step towards enhancing digital financial services through online and mobile payment options and fulfilling “Know Your Customer” requirements for financial institutions.
“In addition to saving time and cost, the business registration and licensing system will create an environment for the private sector to grow and create jobs for the people of Somalia,” said Amena Arif, IFC Country Manager for Somalia. “Digital services are essential in helping governments and businesses deliver critical services to the public and customers”.
The system will serve as a major push towards automating the government services through a One-Stop-Shop.
“This is a big milestone for Somalia and a step in the right direction to meet the needs of the business community which is the backbone of economic growth in the country,” said Kristina Svensson, World Bank Country Manager for Somalia. “The Bank commits to supporting Somalia and the MoCI to ensure the readiness and continued success of this important initiative.
The business registration and licensing reform was supported by the World Bank through the Somalia Capacity Advancement, Livelihoods and Entrepreneurship Digital Uplift Project (SCALED-UP), jointly funded by IDA and the Multi-Partnership Fund (MPF) administered by the World Bank and funded by Denmark, European Union (EU), Finland, Germany, Italy, Norway, State & Peacebuilding Fund (SPF), Sweden, Switzerland, United Kingdom (UK) and USA. The program is also supported by IFC’s Somali Investment Climate Reform Project II (SICRP2), with funding from the government of Denmark, the European Union, and the United Kingdom’s Foreign Commonwealth Development Office.
Business Registration Department
www.moci.gov.so
