NDC Communication Team Questions The Rationale Behind The Collapse Of Some Banks

The Ministry of Finance has signed an agreement with the European Investment Bank for the provision of a €170 million facility for the establishment of a new national bank, the Development Bank Ghana (DBG). According to Prez. Akuffo Addo, Development Bank Ghana will play a critical role in the rapid economic transformation of Ghana, following the devastating effects of COVID-19.” 

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During a political talk show on TV3 with Berla Mundi, while Alfred Thompson, Fmr. Deputy Director of NIB, justified the need for the loan, and establishment of the bank, indicating that the indigenous banks had shifted from their primary goals, to commercial banking, thereby creating a void, Lawyer Edudzi Tamakloe, member of the NDC Comms. Team, questioned the rationale behind the collapse of some banks and financial institutions.

Lawyer Edudzi further asked why government spent Ghc21bn to clean up a Ghc9bn financial sector mess,when it could have invested this same amount into resuscitating the dissolved banks.