The Chief Executive of the Ghana National Chamber of Commerce, Mark Badu Aboagye, has stated that businesses severely Some businesses affected by the recent floods say they may be forced to keep staff at home for a longer period as they work to recover from extensive damage to operations and property.
According to industry representatives, the decision is not a dismissal of workers but a temporary measure until affected offices and facilities are restored.
“We are not sacking them. They have to stay home as long as we have not been able to put our offices back in shape,” one representative explained during an appearance on PM EXPRESS Business Edition on JOYNEWS, hosted by George Wiafe on July 3, 2026.
He added that many member companies in the manufacturing sector have suffered significant losses, including destroyed raw materials and damaged stock, making recovery a slow and costly process.
“Some of our members in the manufacturing space have had their raw materials destroyed and their stocks affected. It will take time to reorganise,” he said, noting that while many firms are insured, processing claims and restoring operations would not be immediate.
He also pointed out that while individuals and communities affected by the floods may receive state support, businesses face a different reality as they work to recover independently.
On the same programme, the Managing Director of Bedrock Insurance, Ernest Frimpong, said insurance companies are expediting claims processes to support affected businesses.
“We are working with a target of five days, and we are moving fast to deal with this challenge,” he said.
He noted, however, that delays have largely been due to incomplete documentation submitted by some affected businesses, which has slowed down the claims process.
The Chief Executive of the Ghana Association of Bankers, John Awuah, also assured that banks are engaging affected businesses to restructure loan facilities in order to ease financial pressure.
“The commercial banks did it during COVID-19, and we will do it again this time round,” he said.
He acknowledged that the banking sector will also feel the impact of the floods, particularly in loan performance, but expressed confidence in the sector’s resilience.
Throughout the discussion, participants expressed frustration over the scale of the flooding, describing it as largely preventable and urging stronger long-term measures to avoid a repeat of such disasters.