Corporate laws under review

The Business Intellectual Property Authority (Bipa) is currently engaged in efforts to bring Namibia’s corporate laws, notably the Companies Act and the Close Corporations Act, up to speed.Bipa CEO Vivienne Katjiuongua said there is a need to revise the current Acts because they are archaic.Bipa is holding round-table discussions with various stakeholders to receive input. Following these, it wants to present a bill before August for consideration."We are at a pivotal stage in the reform process, and this week will make or break the progress done so far in order to achieve our objectives," she said."It is therefore important to note that this very crucial roundtable consultative forum is aimed at bringing together local and international expert stakeholders from various fields, including company and commercial law, tax and insolvency law, corporate governance, financial intelligence, financial and non-financial and economics, to set a solid foundation for Namibian businesses now and in the future," Katjiuongua explained.Encourage investmentsThe reforms of the laws are also aimed at improving Namibia’s competitiveness and ease of doing business, Katjiuongua said."Furthermore, the amended laws will aim to encourage investment and innovation through an effective and predictable regulatory business environment to attract and solidify the government&#039;s efforts towards business development in Namibia," she said.According to Katjiuongua, Namibia lags far behind its peers with regards to competitiveness."It is common cause that Namibia has and will continue to perform far below average on international indices, which, by the way, instils confidence in foreign investors if our ranking are improved," Katjiuongua said."The reform of our laws is premised on creating a more modernised, responsive and simplified legal framework for the formalisation and conduct of business entities in Namibia," Katjiuongua added.

Corporate laws under review

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Namibian Sun 2025-04-17

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Corporate laws under review

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Namibian Sun 2025-04-17

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