The government of Somalia, with support from the International Finance Corporation and the World Bank, officially launched an online business registration and licensing system in March 2022, after an initial 12-month pilot to test the system.
The new online system has made it easier and faster for entrepreneurs to register new businesses and get licenses to operate, helping to fuel the growth of new businesses, especially micro, small, and medium-sized enterprises (MSMEs).
“We spent so much time commuting to the ministry offices and queuing to submit documents,” Shire said. “This online system has saved us time. I can access my business documents in soft copy and share them with banks and business partners hassle-free.”
The waiting period for business registration is down to four days on average from more than two months previously. Likewise, the steps to register a business are now down to three on the online system from the nine steps the previous system required.