Senate passes Chartered Institute of Entrepreneurs bill

The Senate during a plenary

The Senate had passed the bill for an act to establish the Chartered Institute of Entrepreneurs to regulate and control the practice of entrepreneurship and other related matters.

Sponsored by Senator Ibrahim Gobir, the bill, which entered its third reading, having been passed by the Senate.

Presenting the report, Chairman, Committee on Establishments and Public Service, Senator Emmanuel Paulker, said the bill, which was read for the first time on November 15, 2015 passed the second reading on November 30, 2016 and was passed to the committee for further legislative action.

The bill seeks to make provision for technical and professional skills for both emerging and existing entrepreneurs.

It also aimed at evolving a reliable databank and information service system for resourceful operations of small-scale enterprises, as well as ensuring better educated, more courageous and vibrant entrepreneurs.

Besides, when the bill eventually becomes law, it would facilitate stronger cooperation between owner, managers and stakeholders such as banks, insurance firms and government agencies, among others.

It would also ensure greater involvement in the promotion of international business with high level of competitiveness at the market level.

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