You collapsed 9 banks with GH¢21bn only to borrow €170m to start new one – A Plus fires Akufo-Addo

A fierce critic of the ruling New Patriotic Party (NPP) government, Mr. Kwame Asare Obeng aka A-Plus, has questioned the rationale behind the Akufo-Addo administration supposed expenditure of more than GH¢21 billion “to collapse banks that needed about GHS9 billion to survive” but now “borrowing 170 million euros to establish a new national bank when you already have NIB which is struggling; ADB which is struggling”, as well as GCB Bank and CBG.

The convener for The People’s Project (TPP) has once again added his voice to a national issue concerning a newly conceived bank dubbed Development Bank Ghana (DBG).

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DBG is an integral feature of the GH¢100 billion Ghana Cares ‘Obaatampa’ Project, which is seeing to the revitalisation of the Ghanaian economy following the onset of COVID-19.

This signing event took place on Wednesday, 19 May 2021, when President Nana Addo Dankwa Akufo-Addo held a meeting with the President of the European Investment Bank, Dr Werner Hoyer, as part of his official visit to Belgium.

The €170-million facility, according to Dr Hoyer, is the largest facility provided by the European Investment Bank for the establishment of a development bank in Africa or for any other project, for that matter, on the continent.