TKay Legal Blog

    I was in a conversation with some professionals the other day and someone said something I’ve heard way too often. He said banks in Ghana are quick to give loans to Lebanese-owned businesses but will frustrate Ghanaian entrepreneurs with endless requirements. According to him, the system favours foreigners. In that moment, a banker in the room responded with something that carried a lot of weight. She explained that what many people see as discrimination is often the result of how business owners handle their own records. She said, “It’s not about nationality, it’s about numbers. The Lebanese don’t joke with their turnovers. They show strong records, proper documentation and clean cash flow. So the bank can totally trust they’ll pay. But most Ghanaian businesses don’t keep proper records and they understate their earnings to avoid taxes so there’s no proof to lend on.” That conversation brought the real issue to the surface. It’s not always about where you come from, it’s ...

  The conversation around business registration in Ghana is often misunderstood, especially among MSMEs. Many business owners assume that unless their business is incorporated as a company or generating significant income, registration is optional.This is not the case when it comes to the use of business names. The Registration of Business Names Act, 1962 (Act 151) imposes a legal obligation that all business owners need to understand.   The Registration of Business Names Act, 1962 (Act 151) provides that any person operating under a name that is not simply their legal name must register that name in accordance with the Act. This requirement applies to individuals, firms or partners who carry on business under a name that does not consist solely of their true surname, with or without their first names or initials. For example, where a business name includes extra words or branding elements that go beyond the person’s own legal name, that name must be registered. In plain ter...