The Office of the Registrar of Companies (ORC) has the potential to be a powerful tool in the battle against corruption and good governance, according to the Attorney-General and Minister of Justice Godfred Yeboah Dame.
He emphasized that the ORC needed to be "firmly established in every region and district of Ghana" and that it was thus essential that the organization maintain permanent offices throughout the nation.
Mr. Yeboah Dame made the comments yesterday at the opening of the state agency's first office complex in Kumasi.
The Ashanti Region as well as a portion of the Western, Oti, and Eastern regions will be served by the office complex.
34 offices, two conference rooms, four kitchenettes, 21 restrooms, and two sizable parking lots are included. The creation of the new statutory entity, the ORC, which is independent of the Registrar-General's Department (RGD), was made possible by the adoption of the Companies Act, 2019 (Act 992) in May.
The ORC is responsible for registering, managing, and regulating commercial enterprises.
The GH8 million, three-story structure was paid for with locally produced monies from the RGD and ORC.
Infrastructure
Mr. Yeboah Dame said that it was noteworthy that the ORC had achieved noticeable progress in just a few short months of operation, including the purchase of a two-acre plot of land in Accra for the construction of its headquarters for $3.5 million.
A front view of the Kumasi office of the ORC. EMMANUEL BAAH images
A front view of the Kumasi office of the ORC. EMMANUEL BAAH images
He stated that plans for the headquarters' architectural drawings were being evaluated and that the project would ideally start in September of this year.
Advancements
Jemima Mamaa Oware, a deputy minister of finance, stated that the consequences of not digitizing the ORC would be terrible and costly for the country.
He said that initiatives were being made to acquire and set up new software so that the ORC could move its activities.
She said it would enable services to be used and payments to be made without having to go through intermediaries, sometimes known as "Goro boys."
Since the ORC's inauguration in 2019, according to Nana Ama Akyiaa Prempeh, its regional head has had an increase of 32.7 percent and 39.4 percent, respectively, in the region's company and business registrations.
"The office was moved from a previously obscure location at Dadiesoaba to the center of the business district of the metropolis, which has led to the increase in patronage," she said.
Event
A deputy minister of finance, John Kumah, the chairman of the ORC board of directors, Seth Asante, the recently retired registrar general, Joseph Kofi Harley, and the chief executives of a few chosen metropolitan municipal and district assemblies from the area were also in attendance.
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