Monday, April 12, 2021

Trade Ministry Reduces Costs Charged on MSMEs Registration

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By Ndey Sowe

The Ministry of Trade, Industry, Regional Integration and Employment (MOTIE) has reduced the costs charged on Micro Small and Medium Enterprises (MSMEs) FOR registration.

In a presser issued on Wednesday, 10th February, 2021, the ministry stated that in line with the government policy of supporting the formalization of Micro Small and Medium Enterprises (MSMEs), the Gambia Government through the Ministry of Trade informed the public that the associated costs charged for the registration of business with a share capital not exceeding D500, 000 has been reduced.

The presser stated that Incorporation fee has been reduced from D10, 000 to D4, 000, while Business Registration Certification has reduced from D1, 000 to D500.

“The reduced rates are reflected in the 2021 Budget Speech of the Honorable Minister of Finance and Economic Affairs with effect from the 1st of January, 2021”, the release said.

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The trade ministry therefore takes this opportunity to encourage the firms in the MSMEs sector to register their business in order to formalize and enjoy the related incentives, the release added.

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