Journalists schooled on Insolvency Act 2022

The Ministry of Trade, Industry and Business Development yesterday held a workshop for journalists on the Insolvency Act 2022.

The workshop was aimed at raising awareness and enhancing understanding of the key provisions of Insolvency Act 2022, which seeks to strengthen business restructuring, rehabilitate business rescue and encourage economic stability. 

Director of the One Stop Business Facilitation Centre under the ministry, Monaheng Monaheng, said the Insolvency Act is a technical and often misunderstood area of the law, yet it affects real people, business owners trying to keep their doors open, employees worried about their jobs, creditors seeking fairness, and investors gauging the security of the country’s economic environment.

Monaheng said the workshop sought to change that narrative, making it easy for media professionals to comprehend and accurately translate into stories that every Mosotho can understand.

The law can offer business restructuring and rehabilitation through business rescue, he noted.

“It also allows business owners to reorganise,renegotiate, and return to viability,” he added.