Mrs. Maame Samma Peprah, the Acting Registrar of Companies, has announced a series of initiatives aimed at streamlining business registration and compliance processes during her courtesy call on the Ashanti Regional Minister, Dr. Frank Amoakohene, as part of her working visit to the region.
In her address, Mrs. Peprah emphasized the importance of not only focusing on registration fees but also ensuring that existing businesses adhere to renewal procedures and compliance requirements. She noted that the Office of the Registrar of Companies (ORC) has observed lapses in these areas and is committed to rectifying them.
“We must look beyond just the registration fees and pay attention to the compliance and renewal processes of existing businesses,” she stated. “Our aim is to ensure that all companies adhere to the necessary procedures to maintain their operational status.”
To facilitate this, the ORC is undertaking exercises across various districts to inspect and ensure businesses comply with the established processes. Mrs. Peprah acknowledged the challenges posed by intermediaries in the registration process and highlighted the development of a new application designed to simplify business registration.
“Two years ago, we initiated the procurement of a new app that will allow individuals to register their businesses from the comfort of their homes,” she revealed. “This app has been tested and will soon be piloted, making the registration process more accessible and reducing the need for physical visits to our offices.”
Furthermore, Mrs. Peprah introduced the concept of insolvency practitioners under the new Companies Act, which allows for the administration of companies facing financial difficulties. This approach aims to assess whether struggling businesses can be sustained rather than proceeding directly to liquidation.
“Previously, businesses would consider liquidation when facing downturns,” she explained. “With the new provisions, insolvency practitioners can evaluate and support companies to continue operations unless they are beyond redemption.”
She stressed the need for increased education on these new measures and expressed gratitude for the support from the Ashanti Regional Minister.
In response, Dr. Frank Amoakohene commended the ORC’s efforts and underscored the importance of these initiatives in enhancing the business environment in the region. He expressed optimism that the introduction of the new app and compliance measures would complement existing efforts to streamline business operations.
“Your visit and the initiatives you’ve outlined are timely and will undoubtedly contribute to making things right in our business landscape,” Dr. Amoakohene remarked. “Thank you very much for coming and for the work you are doing.”
He said ” I have been receiving a lot business people in my office for sometime now they purposely come for government support but one thing i have notice is that a number of them have not registered their businesses so they don’t have business certificate to be able seek for the support they are looking for. I have been directing them to go and register their business ” he disclosed.
The collaborative efforts between the ORC and the Ashanti Regional administration signal a commitment to fostering a more efficient and supportive environment for businesses in the region.
Source: www.starrfm.com.gh /Isaac Justice Bediako
