Government has with immediate effect abolished the Minimum capital requirement to start a company as part of the on-going business legislative reform aimed at making business easy.
This means that People wishing to start businesses will not be subjected to disclose their capital to PACRO.
Commerce Trade and Industry Minister Felix Mutati announced the change at a press briefing in Lusaka this morning.
Mr Mutati said the move is part of business licensing reform approved by government last year in July whose objective was to reduce the burden faced by the community when establishing their businesses.
He disclosed that 23 licenses out of the 517 have so far been eliminated while 40 bills will be approved by Parliament at the next sitting.
Last year Cabinet approved the business Licensing Reform report that directed that 170 licenses be eliminated and 57 redefined.
The report also provided that 99 licenses be amalgamated into 21 licenses with the rest being returned after being streamlined.