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HomeBusinessGhana: Complying With BOT - 44,000 Companies Submit Names of True Owners

Ghana: Complying With BOT – 44,000 Companies Submit Names of True Owners



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About 44,000 companies in the country have complied with the Beneficial OwnershipTransparency (BOT) initiative and submitted the names of the true owners of such companies to the Registrar of Companies under the Registrar General’s Department.

The Executive Director of Centre for Extractive Development Africa (CEDA), Samuel Bekoe, who disclosed this in an interview with the Ghanaian Times, during a technical workshop at Peduase at the weekend to discuss the 2019 Ghana Extractive Industry Transparency Initiative (GHEITI) reports for mining and oil and gas said the move was to ascertain the real owners and people who make key decisions in a company.

That, he said, was to curb corruption, and prevent people who hide behind shell companies to evade tax and commit financial crimes especially in the extractive industry.

The programme organised by the GHEITI Secretariat under the Ministry of Finance was under the auspices of German development organisation, GIZ and Swiss development organisations, State Secretariat for Economic Affairs.

It was to apprise members of the two media organisations, including some officials of the Ministry of Lands and Natural Resources, Ghana Chamber of Mines, Minerals Commission, Environmental Protection Agency, Tullow Ghana, Petroleum Commission, Ghana Revenue Authority, and Centre for Extractive Development Africa, on the 2019 GHEITI Reports for Mining and Oil and Gas.

Mr Bekoe explained that the BOT programme, among others, was under the Open Extractives initiative, to help determine who ultimately owns, controls and or benefit from companies.