The Ghana Association of Restructuring & Insolvency Advisors (GARIA) has organised a two-day seminar and workshop aimed at deepening the country’s business rescue and continuity ecosystem.

The event – held on November 8 and 9, 2023, as part of the anticipated 2023 GARIA Week celebration – saw over 170 professionals in attendance. They include industry experts, regulators, lawyers, accountants, bankers, and business executives.

Felix Addo, President of GARIA explained that the workshop covered diverse topics such as insolvency and restructuring strategies, financial restructuring, debt management, governance, accountability in business rescue, and leadership.

The seminar provided a comprehensive platform for attendees to delve into the latest trends and best practices in business rescue. Interactive sessions, panel discussions, and insightful case studies engaged participants, fostering a profound understanding of the sector's challenges and opportunities.

He expressed his contentment with the seminar's outcome, highlighting its crucial role in driving knowledge exchange among industry professionals. "The topics discussed are timely and relevant, and I am confident that the insights gained will contribute to the growth and development of the restructuring and insolvency sector in Ghana," he affirmed.

The seminar's carefully curated topics were facilitated by experts in the field under the general theme: Leveraging Restructuring and Business Rescue for Corporate Renewal: Turning Crisis into Opportunity and Growth.

George Fosu, Chief Executive Officer of GARIA, underscored the importance of knowledge-sharing in enhancing business rescue effectiveness, emphasizing GARIA's mission to facilitate efficient business rescue markets that preserve value, protect investment, and support economic growth. "By empowering stakeholders with information and expertise, we are contributing to market efficiency and economic stability," Mr. Fosu stated.

There were a number of speakers at the two-day seminar/workshop. Julius Ayivor, Insolvency Practitioner and Senior Manager at KPMG explored Governance and Accountabilities presented case studies; Dr Michael Effah Asamoah, a lecturer at the University of Ghana, delved into Financial Restructuring & Reorganisation; Prosper Melomey, Partner at Bridgewater Advisors Limited Investment Banker, offered insights into Business Lifecycle & Debt Implications.

PwC team led by Clara Amarteifio-Taylor, Deals-Associate Director, Eric Owino, Business Recovery-Associate Director, and Halvarde Otoo, a senior independent consultant discussed the Debt Restructuring Process; Business Rescue key leadership and transformational change issues and key success factors.

The seminar and workshop not only provided valuable insights into business rescue strategies but also fostered networking, collaboration, and learning from industry luminaries. The successful event solidifies GARIA's status as a leading authority dedicated to Insolvency, its CEO added.