Summary
The Zambian government introduced The Companies Bill, 2017, which aimed to modernize and consolidate the laws governing companies in Zambia. The bill establishes new requirements for the incorporation and registration of companies, including the creation of a single online registry for companies and the adoption of electronic filing and signatures. It also introduces new rules on corporate governance, including requirements for the appointment of independent directors and the establishment of audit committees. The bill also includes provisions for the protection of minority shareholders and the prevention of corporate abuse, such as related party transactions and insider trading. It also establishes new rules for the management and resolution of conflicts of interest, and introduces penalties for non-compliance with the provisions of the bill. The Companies Bill, 2017 is intended to promote transparency, accountability, and good governance in the management of companies in Zambia, and to ensure that the country's business environment is conducive to investment and economic growth.