10,000 jobs would have been lost, if we hadn’t intervened-Nana Addo on banking sector cleansing
The President, Nana Addo Dankwa Akufo-Addo has asserted that a total of about 10,000 people would have lost their jobs if the Bank of Ghana and the Ministry of Finance had not intervened in the banking sector.
Speaking at the ‘President’s Encounter with the Media’, he stated: “Some 3000 plus people have lost their jobs in the banking sector. It would have been 10,000 if we hadn’t intervened. Instead of losing 3000 jobs we would have lost 10000”.
According to him, the government had no choice than to take this step in cleaning in the banking sector.|
“I believe the action taken by the Bank of Ghana was appropriate because we had no choice. The manner we intervened was right to save the banking sector. We would have looked irresponsible if we didn’t take any step”, he added.
The Bank of Ghana in August 2017 began a cleanup exercise in the banking sector by revoking the licenses of insolvent financial institutions.
By: Alberta Dorcas N D Armah