Universal Merchant Bank (UMB) has begun rolling out selected services of the Office of the Registrar of Companies (ORC) at its branches, in a partnership aimed at making business registration and compliance more convenient while supporting the formalisation of businesses in Ghana.

The initiative was discussed on Joy FM’s Super Morning Show on Monday, August 17, by UMB’s Branch Network Head for Greater Accra, Victoria Esinam Attipoe, and the bank’s Head of Corporate Communication, Edem Knight-Tay.

The partnership is intended to bring key ORC services closer to entrepreneurs and business owners, allowing them to access services through selected UMB branches rather than having to visit an ORC office for every transaction.

The arrangement follows a Memorandum of Understanding between UMB and the ORC to establish service desks at selected branches.

The partnership is part of efforts to improve access to business registration and compliance services and support the Government’s broader objective of making it easier for businesses to operate formally.

Ms Attipoe said the central objective of the partnership is convenience.

According to her, UMB wants customers to be able to access relevant government business services through the bank's existing branch network, effectively bringing those services closer to entrepreneurs.

“The UMB-ORC partnership programme is actually to support government business and also help customers, or to bring convenience to customers.”

She said the first phase of the initiative involves three UMB branches — Kasoa, Tema Main and Labone.

“Come through our doors; we would support you with the same service you would find at the ORC through our branches,” she explained.

The initiative means that customers seeking to register a business, renew their registration or undertake other relevant ORC transactions will be able to approach participating UMB branches for assistance.

Ms Attipoe stressed that the bank's objective is to eliminate some of the inconvenience associated with accessing public services by integrating them into locations that customers already visit for their banking needs.

“We are bringing the service to their doorsteps so that any time customers want to do business registrations or renewals or anything related to the ORC, they can just walk through our branches and have those services done,” she said.

The partnership therefore represents a collaboration between a private financial institution and a public regulatory agency, with the two institutions seeking to use UMB's physical network to extend the reach of ORC services.

The implementation has begun at the UMB Kasoa branch, where ORC services have been available since July 27.

UMB has announced that customers at the Kasoa branch can access a range of ORC services, including new business registration, updating business records and other related services.

The bank says the arrangement is intended to make business services more accessible to entrepreneurs in Kasoa, the Central Region and communities along the western corridor.

Ms Knight-Tay confirmed that Kasoa was the first location to commence the rollout, describing it as having started approximately two weeks ago.

The Tema Main branch commenced the service on Monday, August 17, while Labone is scheduled to be the next location.

The initial three branches form the first phase of the partnership. The original agreement between the two institutions envisages the establishment of ORC service desks at selected UMB branches, with the possibility of extending the arrangement to additional locations.

Beyond convenience, the partnership has a wider economic significance.

A significant number of businesses in Ghana operate on a small or informal basis. For entrepreneurs, completing the necessary registration and compliance processes can be an important step towards establishing a formal business identity.

Ms Attipoe said the arrangement would help make that process easier for ordinary Ghanaians.

“It offers the ordinary Ghanaians [the opportunity] to formalise their businesses,” she said.

Business formalisation can help entrepreneurs establish recognised business entities and provide a foundation for engaging more effectively with formal institutions.

For small businesses in particular, access to registration services can be important when seeking to build a more structured operation, maintain statutory compliance and pursue opportunities that require evidence of formal registration.

The ORC-UMB agreement is consequently not limited to convenience for existing customers. It also has the potential to bring new entrepreneurs into the formal economy by reducing the practical barriers they may face when registering and maintaining their businesses.

Ms Attipoe said UMB also sees the initiative as part of its role in supporting government business.

“We want to position ourselves as a bank that supports government business as well as our customers,” she said.

The partnership consequently expands the relationship between the bank and its customers beyond conventional banking transactions.

UMB already operates a nationwide branch network, with the bank's official profile indicating 35 branches, alongside dedicated UMB Centres for Businesses in Accra, Kumasi and Kasoa. The bank describes itself as a Ghanaian indigenous financial institution established in 1972.

By using its physical presence to facilitate access to selected public services, the bank is effectively positioning its branches as additional points through which entrepreneurs can interact with government processes.

For the ORC, meanwhile, the arrangement provides an opportunity to extend its reach without relying solely on its own offices.

The discussion also highlighted another service UMB is offering customers: Legacy Care Plus, an online will-writing and estate-planning service.

Mr Knight-Tay explained that customers can access the service digitally through the UMB SpeedApp or UMB's website.

The process begins with the customer completing an online form and booking an appointment.

After the appointment is booked, UMB's team of legal experts contacts the customer and guides them through the process of preparing and finalising their will.

“Just go there, you fill a form and then you will book an appointment,” Ms Knight-Tay explained.