Over 500,000 businesses; 5,000 companies risk delisting – Registrar

The Office of the Registrar of Companies (ORC) is set to delist 500,000 business names and 5,000 companies by December 2024 for failing to file annual returns, despite extended deadlines and repeated reminders.

Registrar Jemima Mamaa Oware emphasized that non-compliance with the Companies Act, 2019 (Act 992) will lead to significant repercussions, including the inability to conduct business for 12 years without court intervention.

The ORC plans to modernize operations with a fully digital system by April 2025, streamlining registration, renewal, and filing returns.

A pilot program is underway, integrating systems with the National Identification Authority, Ghana Revenue Authority, and others. This initiative aims to enhance efficiency, reduce human intervention, and improve accessibility, enabling easier business transactions and accurate data management.