Banks ready to support businesses affected by floods – GAB CEO

The Chief Executive Officer of the Ghana Association of Banks (GAB), John Awuah, has assured businesses affected by the recent floods that commercial banks are prepared to support them by restructuring their loan facilities.

His comments come as businesses across parts of Accra continue to assess the damage caused by the recent floods, which destroyed properties, disrupted operations and forced many companies to temporarily suspend business activities.

Speaking on JoyNews on Thursday July 3, 2026, Awuah said banks understand the challenges businesses are facing following the floods and are ready to engage affected customers to help ease the financial burden.

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According to him, banks adopted a similar approach during the COVID-19 pandemic by renegotiating loan repayment terms for businesses, and they are prepared to do the same again.

"The commercial banks did it during the COVID-19 time and we will do it again this time round," he said.

Awuah acknowledged that the floods would also have an impact on the banking sector, as some businesses may struggle to meet their loan repayment obligations.

He explained that the situation is expected to affect the performance of banks' loan portfolios but expressed confidence that the industry remains resilient enough to withstand the challenge.

"For the banks, we have been impacted badly, and that will be reflected when it comes to our loan book and the performance of our credits, but we will survive," he stated.

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