By Jibril Abdul Mumuni
Accra, Nov. 2, GNA – Professor Emeritus Albert Fiadzo, a Chartered Institute of Restructuring and Insolvency Practitioners’ (CIRIP) founding council member, has urged government and businesses to strengthen insolvency practice to promote corporate recovery, save jobs and drive economic growth.
He said Ghana needed adequate professional capacity to implement its restructuring and insolvency framework effectively and help distressed but viable businesses recover.
Prof Fiadzo made the call at CIRIP’s 20th Anniversary Celebration and Fourth Presidential Awards and Dinner in Accra, which he chaired.
He said insolvency practitioners played a critical role in preserving viable businesses and employment during periods of economic difficulty.
Prof Fiadzo urged government agencies, financial institutions and corporate entities to partner the Institute to build the expertise required to meet growing demand for restructuring services.
He said a stronger insolvency profession would improve corporate governance, boost business confidence and enhance economic resilience.
Mr Felix Addo, President of CIRIP, said the Institute had championed business rescue and restructuring practices to preserve corporate value and promote economic stability.
He said Ghana’s evolving economy required skilled professionals to handle increasingly complex corporate restructuring assignments.
Mr Addo said capacity development should also involve judges, lawyers, accountants, bankers, regulators and investors whose work intersected with restructuring and insolvency.
He called on stakeholders to support specialised professional education and continuous development programmes to equip practitioners with globally recognised skills and competencies.
The celebration brought together industry leaders, policymakers, legal professionals and financial sector stakeholders to mark CIRIP’s two decades of work in advancing restructuring and insolvency practice in Ghana.
GNA
Edited by Kenneth Sackey