Ghana is in the process of reviewing its Companies Act to facilitate the ease of doing business. In this article, Robert cautions Ghana’s lawmakers against the tendency of some developing countries to copy and paste precedents from the West in the name of law reforms, justifying the description of them in the academic literature as mere imitators.
Robert traces the history of companies law-making in Ghana from 1958, a year after the attainment of independence to date. He argues that in the end, Ghana’s new Companies Act cannot by itself transform Ghana’s business landscape but would merely set the stage for the attainment of this ideal.
He recommends making the tax regime attractive for investments, empowering the commercial court, strengthening corporate law institutions, encouraging the diffusion of the massive blocks of shares on the stock market and crafting corporate laws to reflect sound policy considerations.
The full text of the article can be accessed here.
Robert Nii Arday Clegg, LLM ‘14 is the Managing Partner at Clegg & Everett, a Business Law Firm located in Accra, Ghana.
— Anastasia Tolu, Corporate Governance Concentration site administrator
March 24, 2015