600 K+ Ghanaian Companies Stand The Chance Of Being Erased From The Country’s Business Database

Of the over 1 million businesses registered with Ghana’s Registrar-General’s Department, only about 400,000 of them are empirically up to date. According to the country’s Registrar-General, Jemima Oware, the more than 600,000 others not doing serious business would be deleted if certain conditions are not met.

It appears the businesses have stayed dormant for too long, as they have not renewed or updated their records on the nations database. There is chance these companies have shutdown, which renders their data obsolete.

In a seminar organized by the Institute of Directors Ghana to discuss the responsibilities of directors in the New Companies Act 992, Jemima said the firms would be given a deadline to update their information.

According Jemima Oware, failure to do so within the to-be-set time frame would attract the penalty, after which the businesses would be deleted from the database.

If you are doing serious business, there will be a need to update your records by being re-registered by getting unique tax identification numbers for all your directors, shareholders; get a digital address, file your audited and annual financial statements,” she said.

The Registrar General Department is under the Ministry of Justice and Attorney General in Ghana. It focuses on smoothening the process of business registration, license, and name search. As such, the body is a strategic partner to both startups and continuing businesses.

The Registrar-General appealed to businesses that have truly gone under to inform the organization so their records can be taken off altogether. The department will publish a list of all the firm which are not in good standing and stand for possible expunging.

In October 2018, the RDG entreated existing companies registered between 1963 to 2011 to update their records on the department’s new electronic database-registrar.

As with the recent call, the body is striving to have an accurate, credible, verifiable and accessible database of businesses for national planning and economic development of the country.

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