Dean of the University of Cape Coast Business School, Professor John Gatsi, warned of a potential threat to doing business in Ghana if the New Company Act 992 is not implemented.
He suggested that the Registrar General must be well-resourced to implement the provisions of the Act that provides important guidelines to address issues of office locations, particularly at the regional level, human resources and IT infrastructure.
Prof Gatsi who said this when he addressed a symposium organised by GIMPA Takoradi campus in collaboration with Excel Professional Institute in Takoradi, commended the President for the quick manner in which he assented to the new act to replace the 1963 version, which in his opinion, had some superfluous clauses.Prof Gatsi who focused on regulatory issues called on the appropriate stakeholders to ensure the immediate implementation of Ghana’s New Company Act 992 to ease doing business in Ghana.
Ghana has been ranked averagely on the global indices of ease of doing business, and the current Act was enacted to catapult Ghana positively as an ideal business destination. This Act follows important reforms at the Registrar Generals Department where processes of business registration have been significantly modernised.
However, authorities have refused to commit necessary resources to ensure the complete overhaul of the business environment through the implementation of Act 992.