The Governor of the Bank of Ghana (BoG), Dr Johnson Asiama, has called for improved mechanisms that will allow banks to provide financing to distressed but viable companies without compromising credit discipline.
Dr Asiama said businesses facing financial difficulties should not automatically be treated as failures, arguing that some companies could recover if they receive timely working capital support to complete existing contracts and sustain operations.
He made the remarks while opening a forum organised with the Chartered Institute of Restructuring and Insolvency Practitioners on non-performing loans and financing for companies undergoing restructuring.
According to him, the key challenge was finding a balance between supporting…