Ghana should have an electronic beneficial ownership register in place by the end of 2019. This is according to the Registrar-General Jemimah Oware.
The Registrar General says the presence of a beneficial ownership register will help unmask the real owners of businesses that are registered under the law.
It will also ensure more transparency, accountability and prevention of corruption.
Available information indicates that beneficial ownership impacts all the sectors of an economy, especially the extractive industry.
In an interview with Citi Business News, Mrs Jemimah Oware said the implementation of the beneficial ownership register will ensure transparency in business operations.
“Before the end of 2019, I can assure you that we will have an electronic register in place, we already have the e register software that is quite adequate in the sense of collecting data because we track and collect the identities of persons through the TIN and it’s a very good means of tracking you through all the companies you have interest in that is the starting point”.
“So what we will need to do now is to just do an upgrade of this system to drill further down to know who is the real owner of the company because our current system does not allow us to do so but before the end of 2019 all of that will be put in place", She added.