Akufo Addo’s cousin Finance Minister Ken Ofori Atta spent in excess of Ghc21 billion ($3.9 billion) to collapse banks and other financial institutions. Akufo Addo goes to Europe to borrow a loan amounting to €170 million (Ghc1.19 billion or a little over $207 million) to establish a new Bank.
However, Ghanaians are asking Nana Akufo-Addo where lies his competence and better management of the economy as Ghanaians were promised. They think we should clap for them after mismanaging the economy?
Meanwhile, most indigenous banks in Ghana have suffered through the clean up exercise. The clean up exercise really affected a lot of banks, customers loss their savings and investments.
The Central bank of Ghana could have saved most of these banks instead of allowing them to collapse by putting up proper measures and regulating them to do the right thing and also giving them a valid license to operate.
Millions lost their jobs through the collapse of these banks. The government didn't find it wise to think about the unemployment rate in the country and the possible measures that could have helped these banks from collapsing. The government couldn't provide any alternative work for those who worked in these various banks that collapsed.
These banks contribute to stabilize the economy of Ghana that the same government have been boasting of. Now a lot of these banks are not getting customers due to the fear and perception that they might also fall victim one day and hence every single bank in Ghana seems to be suffering.
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