Joana Quaye has launched legal action against her ex-husband, Richard Nii Armah Quaye, Bills Micro-Credit Limited, and others. She alleges they secretly transferred her 10% ownership, or shares, in the company without her knowledge. The lawsuit, filed on June 10, 2026, aims to reverse the transfer and claim her rightful share of company profits.
Ms. Quaye states she co-founded Bills Micro-Credit in December 2011 with her then-husband, Mr. Quaye. She claims she contributed to the company's operations, including recovering debts. She believes her shares were unlawfully moved to Kobbina Awuah, another individual named in the suit. This alleged transfer came to light during their divorce proceedings.
This case highlights important issues regarding corporate governance and shareholder protection in Ghana. Disputes over company ownership can undermine investor confidence. They also emphasize the need for clear regulations and proper enforcement of company law. Ghana's Companies Act sets out rules for share transfers and director appointments. Any deviation from these rules can lead to legal challenges.
A writ filed at the Commercial Division of the High Court in Accra outlines Ms. Quaye's claims. Her lawyers, Dame & Partners, seek 14 separate legal findings. A central demand is a court declaration that the transfer of 10% of Bills Micro-Credit's issued shares to Mr. Awuah is illegal. Ms. Quaye maintains she is the true owner of these shares. She also wants the Office of the Registrar of Companies to remove any records showing Mr. Awuah as a shareholder.
Beyond ownership, Ms. Quaye demands that Mr. Quaye and Bills Micro-Credit account for all profits since 2011. She seeks her entitled share, plus interest. She alleges that company name changes were also made without following the Companies Act. These allegations suggest potential broader issues with record-keeping and compliance within the company.
Ms. Quaye also challenges her removal as a director of Bills Micro-Credit. She claims she and Mr. Quaye were the company's first directors. Her name was later removed from records without a legal vote by shareholders or her resignation. She wants the court to invalidate changes to both shareholding and directorship records. She also seeks to nullify any director appointments made without her involvement as a shareholder.
The legal outcome could set an important precedent for shareholder rights in Ghana. It will influence how closely private companies adhere to corporate law. Businesses and investors will watch this case closely. The court's decision may impact how company shares are transferred and how directors are appointed. It could also prompt stricter oversight from regulatory bodies like the Registrar of Companies. This ensures fair treatment for all shareholders and directors.