Accra: Dr Dominic Akuritinga Ayine, Attorney-General and Minister of Justice, has reaffirmed government’s commitment to reforms that promote accountability, strengthen enforcement, and safeguard investor confidence in Ghana’s business environment. He emphasized the importance of a sound and predictable legal framework as the backbone of a thriving business climate, ensuring fairness, protecting stakeholders, and creating the certainty that businesses needed to invest and innovate. Dr Ayine delivered these remarks during a goodwill message at the Stakeholder Symposium of the Office of the Registrar of Companies (ORC) in Accra.
According to Ghana News Agency, Dr Ayine commended the ORC for convening the symposium on the theme, ‘Resetting the Business Environment: The Role of Enterprise Risk Management,’ describing it as timely given the growing complexity of risks confronting businesses. He highlighted the significance of the Companies Act, 2019 (Act 992), which established the ORC as an autonomous body and marked a turning point in Ghana’s corporate governance and regulatory framework. Since its establishment on July 23, 2022, the ORC has focused on registering, regulating, and educating businesses to promote compliance and transparency.
Dr Ayine further emphasized the essential nature of the ORC’s three pillars-registration, regulation, and education-in fostering a thriving business environment. He commended the ORC for its continued efforts to promote sound corporate governance and acknowledged the media’s role in amplifying the outcomes of the symposium, highlighting their importance in promoting transparency, compliance, and risk awareness across the business community.
Mrs Maame Samma Peprah, Acting Registrar of Companies, in her welcome address, reiterated the ORC’s commitment to creating a transparent, risk-conscious, and business-friendly environment. She described the Companies Act, 2019 (Act 992) as a landmark reform that introduced modern governance standards, enhanced accountability, and greater transparency obligations for businesses. A major outcome of the Act was the establishment of the ORC as an autonomous regulator with a mandate to register, regulate, and educate businesses.
Mrs Peprah elaborated on the significance of these three pillars, which are not just functions but the backbone of a credible business environment. They shape investor perceptions, business operations, and societal interactions with the formal sector. She highlighted specific reforms under the Act, such as beneficial ownership disclosure, filing of annual returns, auditor tenure limits, and strengthened enforcement powers for the Registrar, all of which align closely with enterprise risk management by improving accountability and reducing systemic risks.
She concluded by emphasizing that adopting robust Enterprise Risk Management practices would empower businesses to anticipate challenges, safeguard assets, and build resilience in an increasingly uncertain global environment. The symposium brought together stakeholders in the business environment to deliberate on practical strategies for embedding risk management into Ghana’s business and regulatory landscape.