Names of over 505,000 businesses and companies to be delisted by end of December 2024

The Office of the Registrar of Companies (ORC) has announced plans to delist approximately 500,000 business names and 5,000 companies from its register by the end of December 2024.

This action targets businesses and professional organisations that have failed to file annual returns, despite receiving a one-year grace period and consistent reminders.

The Registrar, Jemima Mamaa Oware explained during a stakeholder engagement that the delisting is aimed at enhancing compliance and improve the integrity of the ORC’s business registry.

She noted that the exercise is part of a larger effort to modernise operations, including a transition to digital services in April 2025. The digital system is expected to streamline processes such as business registration, renewal, and filing of returns, making these services more efficient and accessible.

“For business names, we are dealing with over 500,000. For companies, it's about 5,000. These are entities we reached out to earlier this year. If they fail to comply by year-end, it indicates they are not operating, and their names will be removed from the register,” Mrs. Oware said.

She added that delisted entities would face restrictions, including a 12-year prohibition on reusing their names without a court order for reinstatement.

The Registrar urged businesses at risk to act promptly by updating their records and filing outstanding returns to avoid delisting. She emphasised that non-compliance with the Companies Act, 2019 (Act 992) would have severe implications, including restrictions on conducting transactions with both government and private entities.

Transition to Digital Services

Mrs. Oware outlined the ORC’s digitalisation agenda, which is set to launch fully in 2025.

Currently, a pilot programme is running alongside the existing manual system. 

Once implemented, the digital platform will allow businesses and organisations, including churches, NGOs, and law firms, to manage various operations online.

The system will integrate with the National Identification Authority (NIA), Ghana Revenue Authority (GRA), Ghana Post, ghana.gov, and the Institute of Chartered Accountants Ghana (ICAG). This integration is to enhance efficiency, reduce manual interventions, and improve service delivery.

Additional features will include simplified access to Tax Identification Numbers (TINs), online payments, and improved verification processes.

The initiative is also expected to provide greater transparency and public access to information on registered businesses and professional organizations.

According to Mrs. Oware, the modernization efforts will accelerate turnaround times, enhance operational accuracy, and facilitate smoother business transactions across Ghana.

The ORC is optimistic that these advancements will contribute to a more robust and streamlined business environment in the country.