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Jemima Oware is the Registrar General
• The RDG has engaged key stakeholders on improving business registration services to realise the Companies Act
• The act is expected to simplify and streamline the procedures for business registration
• It is being spearheaded by the Registrar General’s Department, SECO and the IFC
Government through the Registrar-General’s Department has held a major stakeholder engagement aimed at improving the efficiency of business registration services towards the Draft Implementing Regulations of the Companies Act 2019 (Act 992).
The development comes after a Review Committee on the draft regulations have all been engaged for their input. They include the Trade Union Congress (TUC), Business Associations, Institute of Chartered Accountants and Corporate Secretaries.
According to the Registrar-General, Madame Jemima Oware, the Act is key towards simplifying and streamlining the procedures for business registration across the country.
Speaking at a hybrid–virtual and in-person workshop, Madame Jemima Oware said, “The Regulation also addresses the standardization of required filings, as well as the provision of comprehensive requirements for the use of restricted words like ‘Group,’ ‘Holding,’ etc.
“The Regulations also require companies to report and maintain up-to-date and accurate records of beneficial ownership. It also specifies the mode and format for submitting particulars that must be entered into the Central Register, as well as the procedure for collecting, authenticating, verifying, or correcting information in the Central Register.”
She added that, “The Act is very forward-thinking, introducing more stringent laws on corporate governance, beneficial ownership, and the establishment of a new Office of the Registrar of Companies, among other things. It also encourages the ease of doing business.”
“When completed, it should be a high-quality resource material that will result in the standardization, transparency, uniformity, and consistency of the Registry’s processes,” she pointed.
Current donors and partners supporting the Draft, Implementing Regulations of Companies Act 2019 (Act 992) include the International Finance Corporation (IFC) and the Swiss Secretariat for Economic Affairs (SECO), who have provided technical and financial assistance.
Ronke-Amoni Ogunsulire, the IFC Country Manager giving remarks at the workshop pointed the Government of Ghana, through the Attorney-General’s Office, the Registrar General’s Department, under Madame Jemima Oware’s leadership, has demonstrated a clear vision for what it wants.
“However, it is the professional class-lawyers, accountants, company secretaries, who will use the law and its related implementing regulations. Also, the private sector companies who will be impacted by the laws and its regulations, by your comments today, we expect to refine the regulations so that they will make for successful outcomes,” he added.
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