Two Businessmen Fined Over Non-Registration of Company

By Castro Zangina-Tonng

The Accra Circuit Court "3" has convicted and sentenced two businessmen for refusing to register their company with the Ghana Investment Promotion Centre (GIPC) as required by the laws of Ghana.

The convicts, Mr. Ding Guo Jun, a Chinese engineer, and Mr. Augustus Kyei Amponsah, a Ghanaian timber merchant, were fined

GH¢6,000.00 each (500 penalty units) or in default serve six months in prison each, in hard labour.

They had registered their company, Tengfei Ghana Limited, as a joint venture and operating a trading enterprise at Zongo Lane without registering it with GIPC.

Assistant Superintendent of Police (ASP) Man-Anit Sampana, told the court presided by Mrs. Ruby Naa Aryittey that personnel of the centre (GIPC) had information to the effect that some foreign companies were operating in the Accra metropolis and refused to register with the outfit.

He said that based on that (information) GIPC wrote to the Registrar General's Department for further authentic pieces of information in relation to the operations of the convicts' company and it was disclosed that GUO Jun and Yaw Kyei had registered Tengfei Ghana Ltd as a joint venture.

ASP Sampana said that GIPC wrote a letter to them (convicts) on October 4, 2017, inviting them to come and register their company before November 6, 2017, and that the two businessmen received it on November 5, "but refused to register the company on the due date with GIPC".

He said that they admitted the offence during investigation and were charged with intentionally and unlawfully refusing to register their company.

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