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Driving Economic Growth:…


Driving Economic Growth: The Ghana Ministry of Finance Transformation Story

About the Client

Republic of Ghana – Ministry of Finance (MoF) 

The MoF is one of the Central Management Agencies of the Civil Service of Ghana. Its mission is to ensure effective economic policy management for the attainment of macroeconomic stability and sustainable economic growth through sound fiscal policy and efficient public financial management by deploying competent staff and robust systems for the development of Ghana.


In 2020, the World Bank’s Ease of Doing Business Index ranked Ghana in the mid-lower tier, coming in at 118th place out of 190 economies. At the time, one of the challenges identified in the country’s business environment was the structure of the Registrar-General’s Department (RGD). The department was responsible for an unmanageable number of functions including the registration of businesses, industrial property, marriages, and administration of estates and public trusts. 

As a result of the identified challenges, the government of Ghana embarked on a mission to address the shortcomings of the existing state of affairs by creating the Office of Registrar of Companies (ORC), an independent governmental body that is set up to register and regulate businesses and corporate bodies operating in the country, autonomous of the Registrar-General’s Department. 

In addition, the government decided to take the necessary preparatory steps towards the implementation of the World Bank Group’s new corporate flagship, Business Ready (B-READY), which aims to measure the business and investment climates in 180 economies worldwide annually and improve upon and replace the Ease of Doing Business Index.


At the commencement of the project, Ghana had already determined that the decoupling of the Office of the Registrar of Companies (ORC) from the RGD is a strategic imperative. This strategic move aimed to streamline service delivery to companies, fostering efficiency and in turn, enhancing economic growth. NRD Companies took on the mission of addressing this notable challenge within the country’s business environment, and to advise with the best available knowledge and experience on the matter.

In light of the mentioned conditions and the client’s context at hand, NRD Companies provided essential support by delivering the following key services:

1. Developing a comprehensive Strategic Plan, ensuring that the newly established ORC would aptly fulfill its responsibilities in accordance with the stipulations outlined in the new Companies Act of 2019 (Act 992). This plan was designed not only to meet legal mandates but also to incorporate globally recognized strategic best practices into the daily operations of the ORC.

2. Developing Organizational Manuals for both ORC and RGD – foundational documents, outlining explicit operational procedures and policies for both organizations. These manuals provided a clear framework for efficient and effective operations.

3. Developing a Decoupling Actions Plan, which was strategically designed to facilitate and support the smooth transition of decoupling, ensuring that the separation process occurred with minimal disruption.


Upon integration of the developed documents into the daily core of ORC and RGD operations, the benefits they yield have a dual-tier nature – enriching the specific organizational fabric and reverberating across Ghana’s economic landscape.

Within the organizational realm, the consultancy endeavor results in operational efficiency, stability and transparency of two governmental organizations, which possess outlined, well balanced and streamlined performance processes and procedures. Such organizational robustness enhances public trust in regulatory processes, and minimizes opportunities for negative side effects, like corruption and undue influence.

In terms of its impact on the country, the results create an ecosystem conducive to a business-friendly environment and growth, innovation and fair competition. Furthermore, it presents Ghana as a reputable and reliable partner in the global economic arena, positively attracting an influx of foreign investments

Following the official launch of the Office of the Registrar of Companies (ORC) by Ghana’s president, H.E. Nana Addo Dankwa Akufo-Addo, Mrs. Jemima Mamaa Oware, Ghana’s Registrar of Companies said that “the vacuum created by the absence of the ORC contributed to the weak system of supervision of companies in the country. Therefore, the establishment of the ORC is welcome news that’s going to bring dynamism to the business environment, and will present the opportunity for a more efficient registry solely focused on business registration and its processes”.  

The President commented that “the coming into force of the ORC was a considerable milestone in the anti-graft agenda of the government and that the ORC would become a veritable partner of the government in the fight against corruption”.

Replicable Elements

The solutions implemented in Ghana are unique and tailored for the needs of the Ghana business and government landscape.

However, the experience and competencies in the area of strategic and organizational development, the NRD Companies processes in the area are universally transferable and adaptable to the needs of any nation across the globe. The team of experts at NRD Companies ensures that their solutions are finely tailored to each client’s needs, embracing the latest and most relevant global best practices.

The NRD Companies team is eager to offer their expertise and provide comprehensive guidance in the following domains: 

● Change Management;

● Development of strategic and operational documents (e.g., Strategic Plans, Organizational Manuals, Action Plans etc.);

● Implementation of Organizational Development Processes;

● Contribution to smooth transitions and transformations within governmental agencies 

SDGs Addressed 

By assisting the government of Ghana to improve efficiency, enhance the ease of doing business environment, and by delivering strategies and change management services along with strategic documents, the project addressed three major UN Sustainable Development Goals:

  1. Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all
  2. Build resilient infrastructure, promote inclusive and sustainable industrialization and foster innovation
  3. Promote peaceful and inclusive societies for sustainable development, provide access to justice for all and build effective, accountable and inclusive institutions at all levels

Republic of Ghana – Ministry of Finance (MoF)

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