30 January 2017

Sierra Leone: Corporate Affairs Commission Issues Ultimatum to Companies

E — Chief Executive officer of the Corporate Affairs Commission (CAC) has issued an ultimatum to all local and international companies to honour their registration or face court action.

Michaella Mackay told newsmen on Thursday at the Ministry of Information and Communication weekly press briefing that despite the one year grace period given to companies, most of them were yet to honour their registration.

Though she could not name the defaulting companies at the time, madam Mackay said they would name and shame them by this week.

"We are calling on all companies that have not registered to do so now. We have extended the time twice. At the end of this week, we would publish the names of all those companies that have refused to register. If they still fail to comply then we would take court action against them," Madam Mackay said.

Madam Mackay said they have an accessible website were companies could easily conduct online registration, noting that within six months they would ensure that every company has a code that would explain it activities.

She said the commission was working with big offices in the country including the National Social Security and Insurance Trust and National Revenue Authority, and that the commission was working to ensure that corruption was eradicated, stating that companies could pay registration fees through Airtel money or at the bank.

She disclosed that by next June they would open a branch office in the provinces which would possibly make it easier for companies in the interior to conduct registration, disclosing that they have over 1,140 local and 27 international companies in Sierra Leone.

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