He noted that stakeholders at the workshop would be mostly involved in “Companies registration, incorporation and other matters, [hence] it is therefore important that from the very beginning we are all clear of the procedures and processes to be adopted by the Corporate Affairs Commission in executing its mandate in company’s regulation.”
As a regulator, he said “our efforts to ensure we have a proper legal and regulatory framework would all go in vain without the fullest support and cooperation from you who we will mostly be interacting within the course of our respective duties.”
In her statement, the acting Minister of Trade and Industry, Mabinty Daramy said the workshop is one of the several the commission has held to promote good corporate governance and one that identifies the linkages of the commission to the Ministry of Trade and Industries which provides leadership in policy development for Private Sector expansion.
CAC’s Chief Executive Officer (CEO) and Registrar, Michala Mackay explained that the new process in collecting and submitting company’s registration would make lots of difference “possibly, we would build lot of the confidence again in our public institutions. It would help again promote accountability and transparency in our processes and procedures [since] the list of all our fees would be available online and in newspapers so everybody would be aware what to pay for particular services.
“We also promote the no bribe campaign to ensure that bribes are not given to any of our workers in the issuing out their services.
She explained that though the system is IT driven provision is made for those who are not tech savvy to registrar with ease. “We do have processes and procedures that are manual,” she said.
The CAC’s CEO also explained that given the number of companies on the register and in order to ensure this exercise is conducted in an orderly manner, all existing companies are required to complete the recall form and submit it to the Commission within the period specified.