The Office of the Registrar of Companies (ORC) has urged businesses across the country to regularise their operations by registering in accordance with the Companies Act, 2019 (Act 992) to strengthen economic develop­ment.

According to the Director of Registration and Licensing of ORC, Mrs Yayra Adzo Banini, registering business gives them credibility and enhances branding of the business.

Mrs Yayra Adzo Banini ,Director of Registration and Licensing of ORC

She emphasised that register­ing a business enables entrepre­neurs to establish a distinct iden­tity in the business environment, adding that without registration, access to credit facilities would be impossible as financial institu­tions would not extend support to unregistered entities.

She made this known at a float organised by ORC on Friday to sensitise the public on the man­date of the ORC and also urge them to register their businesses no matter the size of business.

The float formed part of the week celebration launched on August 11, 2025 on the theme “Resetting the Business Environ­ment – The Role of Enterprise Risk Management.”

The float which started at the office of ORC went through principal streets and markets such as, Rawlings Park, Abossey Okai, Kaneshie, Darkuman, and Lapaz.

She said the theme to highlight the importance of risk manage­ment in business operations as well as the importance of filing annual returns and maintaining proper financial records.

Mrs Banini explained that the establishment of the Office of the Registrar of Companies was a major milestone in the country’s corporate governance landscape.

Formerly part of the Reg­istrar-General’s Department, the ORC now operates as a fully-fledged institution dedi­cated solely to the registration, regulation, and education of businesses.

Mrs Banini noted that in most jurisdictions, a separate office exists to handle business regis­tration, hence the government’s decision to establish the ORC to streamline services and enhance efficiency.

“According to Section 353 of Act 992, we are mandated to regulate, register and educate. Education is one of our core functions, and that is why we are taking to the streets to sensitise the public about the mandate of this new institution,” she said.

She described the ORC as a “new-born institution” whose role was to serve as the formal gateway for businesses to estab­lish their legal identity.

Mrs Banini explained that just as individuals require a birth certificate or passport to assert their existence and citizenship, businesses must equally secure formal registration to be rec­ognised in the economic space.

She said since the awareness campaign, feedback from the public had been encouraging, adding that many business owners expressed appreciation for the education and pledged to take the necessary steps to regularise their operations.

She further emphasised that the growth of the country’s economy was linked directly to the vibrancy of its business sector.

“For every economy to achieve its purpose and for a country to develop, economic activities are very important. All businesses whether in services, manufactur­ing, or trading must be properly registered to contribute effective­ly to national development,” she urged.

Mrs Banini encouraged all entrepreneurs to seize the oppor­tunity to register their businesses with the ORC, stressing that proper documentation not only provides legitimacy but also posi­tions enterprises to access future opportunities