Business Reforms in Mali
= Doing Business reform making it easier to do business. = Change making it more difficult to do business.
Starting a Business: Mali made starting a business less expensive by reducing the paid-in minimum capital requirement.
Getting Credit: Mali improved access to credit information by establishing a new credit bureau.
Resolving Insolvency: Mali made resolving insolvency easier by introducing a new conciliation procedure for companies in financial difficulties and a simplified preventive settlement procedure for small companies.
Getting Credit: Mali improved its credit information system by introducing regulations that govern the licensing and functioning of credit bureaus in the member states of the West African Economic and Monetary Union (UEMOA).
Trading across Borders: Mali reduced the time for documentary compliance for both exporting and importing by introducing an electronic data interchange system.
Dealing with Construction Permits: Mali made dealing with construction permits easier by reducing the time needed to obtain a geotechnical study.
Protecting Minority Investors: Mali strengthened minority investor protections by introducing greater requirements for disclosure of related-party transactions to the board of directors and by making it possible for shareholders to inspect the documents pertaining to related-party transactions and to appoint auditors to conduct an inspection of such transactions.
Starting a Business: Mali made starting a business more difficult by ceasing to regularly publish the incorporation notices of new companies on the official website of the one-stop shop.
Paying Taxes: Mali made paying taxes less costly for companies by reducing the corporate income tax rate—though it also introduced a new tax on land. At the same time, Mali simplified the processes of paying taxes by introducing a single form for joint filing and payment of several taxes.
Starting a Business: Mali made starting a business easier by adding to the services provided by the one-stop shop.
Getting Credit: Access to credit in Mali was improved through amendments to the OHADA Uniform Act on Secured Transactions that broaden the range of assets that can be used as collateral (including future assets), extend the security interest to the proceeds of the original asset and introduce the possibility of out-of-court enforcement.
Dealing with Construction Permits: Mali eased construction permitting by implementing a simplified environmental impact assessment for noncomplex commercial buildings.
Registering Property: Mali eased property transfers by reducing the property transfer tax for firms from 15% of the property value to 7%.
Trading across Borders: Mali eliminated redundant inspections of imported goods, reducing the time for trading across borders.
Starting a Business: Mali made starting a business easier by creating a one-stop shop where all registration procedures can be completed, including registering a company with the registrar and tax agency, applying for online publication and obtaining a national identification number.
Dealing with Construction Permits: Mali made dealing with construction permits easier by speeding up the process for obtaining a water connection.
Protecting Minority Investors: Mali strengthened investor protections through an amendment to its civil procedure code increasing shareholders’ access to corporate information during trial.
Trading across Borders: Mali reduced the time required for trading across borders by implementing an electronic data interchange system, improving the terminals used by Malian traders and streamlining documentation requirements.
Enforcing Contracts: Mali improved its contract enforcement process through amendments to its civil procedure code introducing case time limits and allowing a summons to be served, with no intervention by the judge, upon the filing of the complaint at the competent court.
Trading across Borders: Mali made trading across borders easier by introducing a new electronic data interchange system and by reaching a border cooperation agreement with Senegal.
Starting a Business: Mali reduced the time for business registration by introducing a single company identification number.
Registering Property: Mali reduced the time required to register property by decentralizing and reorganizing registry operations and reassigning staff.