The Director of Commercial Banking at Absa Bank Ghana, Eric Tsiri, has urged Ghanaian businesses to prioritise proper record-keeping, consistency and credibility to improve access to financing.
Speaking during the 2026 Citi Business Festival on Channel One TV, he noted that banks are willing to fund businesses but can only lend where there is clear visibility of operations and financial behaviour.
According to Mr Tsiri, “As banks, our job is to sell money, but we can only lend to what we can clearly see, understand and assess.”
He explained that many businesses remain informal and fail to maintain proper financial records, making it difficult for banks to assess their performance and risk.
Mr Tsiri stressed that collateral is not the only requirement for loans, adding that banks also consider factors such as payment history, cash flow consistency and business relationships as strong indicators in credit decisions, particularly where transactions can be verified.
He further explained that different financing options exist depending on the nature of the business. Microfinance institutions support more informal enterprises, while banks provide structured financing for larger needs such as trade and expansion.
Mr Tsiri added that fintech companies are helping to improve access to credit through alternative data and noted that banks are increasingly partnering with them to enhance financial inclusion.
He encouraged businesses to build long-term banking relationships and maintain disciplined financial practices to improve their chances of securing funding and scaling sustainably.
The Citi Business Festival, by 97.3 Citi FM and Channel One TV and powered by Absa Bank, is a month-long series of expert conversations and forums aimed at promoting financial literacy and business growth.
