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The Patent and Companies Registration Agency (PACRA) says it has unveiled a three-year reform programme aimed at overhauling Zambia’s business beneficial ownership registers and building a modern system that promotes integrity, investment, and economic growth.
PACRA Manager for Digital Transformation, Papias Banda, said the goal was to shift from a register that merely records filings to a dynamic platform that enhances transparency, strengthens corporate governance, and supports government oversight.
Speaking during a half-day training workshop for journalists in Lusaka on Wednesday, held at Sarovar Hotel, Banda said the business register development project was being implemented through a partnership model that ensured strong national ownership.
He explained that the initiative sought to improve data quality, reliability, and usability—key elements that will bolster economic governance, regulatory oversight, and legitimate trade.
According to Banda, the reforms will be supported through donor-funded implementation administered by Open Ownership.
He noted that the first year of the programme had already begun and was fully funded by PACRA’s anchor donor, the German Agency for International Cooperation (GIZ).
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“The project officially began in December 2025, with development of the new register commencing in January 2026,” Banda said.
He highlighted that fragmented data from duplicate national registration cards had resulted in multiple profiles for single individuals, while beneficial ownership reporting stood at only 44 percent as of December 2025.
“The reforms promise unified company records tracking full ownership histories, with duplicates eliminated through unique identifiers. Journalists will gain verification tools to expose hidden influences—such as family proxies,” he added.
Banda also stressed that funding for years two and three (2027–2028) will be critical for scaling, verifying, and institutionalising the system to ensure long-term sustainability and impact.
Meanwhile, PACRA Deputy Registrar for Commercial, Thomas Kaunda, urged the media to help raise awareness of beneficial ownership transparency (BOT) and its role in combating fraud, money laundering, and the financing of terrorism.
Open Ownership Senior Regional Manager for Africa, Favour Ime, reaffirmed her organisation’s commitment to supporting PACRA in delivering the project.
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