The Ghana National Chamber of Commerce and Industry’s Tema branch hosted financial experts last week to address the growing challenge of business financing amid high interest rates and restrictive lending conditions.
With commercial banks’ base rate at 23.99% and non-performing loans reaching 23.6%, the forum examined alternative funding strategies for enterprises struggling to access capital.
Strategic African Securities CEO Sena Agbo advised businesses to thoroughly analyze cash flows before seeking financing, while finance lecturer Dr. Albert Gemegah emphasized improved corporate governance to enhance SME creditworthiness. The Association of Rural Banks’ Dr. Joseph Osei presented green finance as an emerging option for sustainable business growth. Chamber Chairman Dr. Gideon Amenyedor noted the discussions would shape advocacy efforts to improve credit access, particularly for smaller businesses facing exclusion from traditional banking channels.
Economic analysts observe these financing challenges persist despite recent macroeconomic stabilization efforts, with the private sector’s expansion constrained by lenders’ risk aversion. The Chamber plans to incorporate these insights into ongoing policy discussions with regulators and financial institutions.
