Efforts are underway to ensure a single source of identity for all businesses, including Small and Medium-sized Enterprises (SMEs) operating in Ghana.

According to Vice President Dr Mahamudu Bawumia, the government has commenced engagement with the Global Legal Entity Identification Foundation (GLEIF).

While speaking at the ceremony of the 53rd General Assembly of the World Trade Centers Association in Accra, on Monday, April 24, explained that the “logical next step in Government’s integration and economic development agenda is to enable Ghanaian businesses to partake in a globally accepted verification process to give them credibility and global reach.”

The theme for the five-day conference is “Towards African Economic Integration and Enhanced Global Presence”.

The government believes the time is ripe following the successful roll-out and acceptance of the Ghana Card as the single source of identity for Ghanaians and persons living in Ghana.

In his keynote address, the Vice President entreated the African Continental Free Trade Area Secretariat to come on board and work on a legal identity for all businesses across Africa.

“That will make it much easier for transactions within Africa, amongst businesses and beyond because there is a single unique global legal identity for all businesses and that's what we should be working towards,” he added.

GLEIF manages a network of partners, the LEI issuing organisations, to provide trusted services and open, reliable data for unique legal entity identification worldwide.

Taking advantage of the Global LEI Index empowers market participants to cut costs, simplify and accelerate operations and gain deeper insight into the global marketplace.

Source: The Independent Ghana