The article is called – Now Or Never. Africa is a country where opportunities are mellowed down by hunger, malnutrition, and diseases. However, various institutions and NGO’s are doing their best to salvage the African people before it is too late. This nation is one of the few places in the world where there are vast, untapped natural resources.
The advent of investments from other countries woke up the sleeping economy of Africa. China, which is now one unstoppable power n terms of political and economic prowess, is helping Africa get back on track. Following the increase in economic investment, this nation is now revving up to attract industries and other businesses both local and foreign.
The increasing global attraction of the one of a kind terrains and harbors of Africa brings in tourists from all over the world. There are rich and entertaining sights which tourists may choose from when visiting this place. There are also more airports and highways to support tourism, trade and industry. People easily get in and out of Africa and other surrounding islands. These things put together increases demand. This demand is supplied by businesses and other industries to crop up.
In starting a business, there are things which must be remembered. All businesses must be duly registered with the Registrar of Companies where the name of the company is reserved. This takes three days or longer depending on the nature of the company. Once reservation is paid, the applicant must lodge formation documentation with CIPRO which is found in Pretoria, Gauteng Province, South Africa. Lodging takes five to seven days.
Payment is also required depending on the business being registered. The applicant then needs to open a bank account which only takes a day. This has no fees required. Registration of the company with the local receiver of revenue (SARS) for income tax, value added tax, and employee withholding tax is done after opening of bank account. This has no fee and takes about 12 days.
Registration with SARS is done concurrently with the registration with the Department of Labor for Unemployment Insurance which also issues the company’s reference number. This has no fee and takes four days to finish. Concurrent with SARS registration is registration with the commissioner as stated in the Compensation for Occupational Injuries and Diseases Act. This takes ten days to finish and has no charge. All of these are done so that businesses could avoid running into problems with the law.
Africa is building one business at a time. There are more and more businessmen who see opportunity in despite the many inconveniences found in the African soil. People prove time and again that driven businessmen can survive the tough conditions of Africa. The new millennium is considering a change in the world of African people. Businessmen are sensing something different. The land is set for more business and the time to start is now.
Africa is changing. Investments are doing things never before seen to improve the economy of this huge country that is Africa.