Accra: Madam Yayra Adzo Banini, the Director of Registration and Licensing at the Office of the Registrar of Companies (ORC), has called on entrepreneurs to register their businesses to gain legal recognition and access various benefits. “In life, every individual has a certificate of identity – a birth certificate and a passport for travel. In the same way, for a business, the only proof of ownership and legitimacy is registration,” she emphasized during a float in Accra marking the conclusion of a three-day ORC Week Celebration. The event was themed ‘Resetting the Business Environment: The Role of Enterprise Risk Management.’
According to Ghana News Agency, Madam Banini explained that registering businesses with the ORC offers several advantages, such as legal recognition, limited liability, increased credibility, and enhanced access to funding and markets. It also provides protection of business names and legitimizes operations, thus safeguarding personal assets from business debts. This registration fosters trust with customers and partners, positioning businesses for growth, government programs, and international trade.
“Economic activities are the backbone of national development. So, whether you are into services, manufacturing, or any other venture, make sure your business is registered. That is the only way you can be recognized when the names of businesses in Ghana are mentioned,” Madam Banini stated. She highlighted that the ORC was established under the Companies Act, 2019 (Act 992), as a separate statutory body from the Registrar-General’s Department, with a sole focus on company and business registration, regulation, and public education.
“As part of our mandate under Section 353, we regulate, register, and educate. That is why we are on the streets – to educate the public and announce the birth of a new institution, the Office of the Registrar of Companies,” she added. The ORC is responsible for registering all forms of businesses and professional bodies, including Business Names (Act 151), Companies (Act 992), Partnerships (Act 152), and Professional Bodies (N.R.C.D. 143), except those established by Acts of Parliament.
The ORC also regulates compliance by appointing Inspectors, Receivers, and Managers, and serves as the Official Liquidator under the Corporate Insolvency and Restructuring Act, 2020 (Act 1015) and its amendment, Act 1031. Furthermore, the Office collates and disseminates information on registered entities in the Business Register and conducts regular public education programs on the operations of Companies, Partnerships, Business Names, and Professional Bodies.