Ghana’s corporate legal environment is primarily regulated by the Companies Act 2019, which established a Registrar of Companies (RoC) separate from the Registrar General’s Department (RGD). The RGD was responsible for business registration under previous iterations of the act, but the legislation shifts its responsibility to improving service delivery and delisting firms from the register, while…
Viewpoint:Adelaide Benneh Prempeh A new law on PPPs came into force in Ghana on December 29, 2020. The PPP Act, 2020 (Act 1039) is heralded as the long-awaited solution to a single, more efficient and investor-friendly legal framework for infrastructure projects. Historically, in the absence of a single legal framework for PPPs, various sector-specific laws formed the backbone of collaboration…
A series of laws were passed in recent years aimed at supporting the development of Ghana’s private sector. These changes addressed long-standing impediments to investment and created a supportive regulatory environment that facilitated the growth of entrepreneurships; micro-, small and medium-sized enterprises (MSMEs) and large corporations. Insolvency & Restructuring The Corporate Insolvency…
This chapter introduces the reader to the different aspects of the legal system in Ghana in partnership with B&P Associates. It also contains a viewpoint with Adelaide Benneh Prempeh, Founder, B&P Associates.…
Ghana is the first African country to achieve independence from British colonial rule, and is widely known for its natural resources such as cocoa, as well as its inland water sources. Several measures have been taken to balance government revenue and spending, and the country remains a safe haven for foreign direct investment, which stood at $830m in the first half of 2021. The most recent genera
Ghana’s legal system is based on the English Common Law. The respect for the rule of law and the protection of fundamental human rights are ideals woven intrinsically into the fabric of Ghanaian society. The country’s prevailing 1992 constitution further embeds these ideals and has served as a bedrock for ensuing decades of sustained democratic governance and sociopolitical stability. Largely,…
Viewpoint:Adelaide Benneh Prempeh Ghana is broadly heralded as a beacon for democracy, peace and socio-economic stability in West Africa. Peaceful democratic elections have been held in Ghana since 1992, and since then the country has steered clear of major internal conflict. The rapid growth and permeation of private enterprise has ensured a level and competitive playing field for investors…
The new Companies Act promotes prudence in management, effective boardroom practice and shareholder activism. The timing of this new law is ideal as 2018 saw a string of collapsed banks, many of which experienced a breakdown in their corporate governance regime. For the first time in Ghana’s corporate governance history, an Office of the Registrar of Companies (RoC) will be established, with…
This chapter examines the legal system of Ghana, including The Companies Act 2019, capital requirements, foreign investment regulation, incentives and guarantees, labour law, property law, governance of non-bank financial institutions and sector-specific regulations. This chapter also contains a viewpoint from Adelaide Benneh Prempeh, Managing Partner, B&P Associates.…
The Report examines the evolution of the Ghanaian economy over the past 12 months, ranging from the country’s financial regulatory reforms and capital requirements increase, to efforts to improve the ease of doing business and company registration, and the role of industrial parks in boosting the economy. There is also a close examination of the effects of commodity price volatility and new oil