Ghana Business News » General News https://www.ghanabusinessnews.com The first place for your business news Tue, 28 Apr 2015 16:28:04 +0000 en-US hourly 1 http://wordpress.org/?v=4.1.4 Traders trained in how to access loans https://www.ghanabusinessnews.com/2015/04/28/traders-trained-in-how-to-access-loans/ https://www.ghanabusinessnews.com/2015/04/28/traders-trained-in-how-to-access-loans/#comments Tue, 28 Apr 2015 16:28:04 +0000 https://www.ghanabusinessnews.com/?p=142709 The Zonal Credit Officer of the Hunger Project (THP), Mr Ishaque Mohammed Essie, has advised managers of small and medium-scale enterprises, to adopt good managerial practices before going in for …

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LoansThe Zonal Credit Officer of the Hunger Project (THP), Mr Ishaque Mohammed Essie, has advised managers of small and medium-scale enterprises, to adopt good managerial practices before going in for  loans.

Mr Essie gave the advice at a capacity-building workshop for 120 women in  small and medium scale business enterprises at Akim Oda in the Birim Central Municipality.

The workshop was organized by the Community Development Unit, Birim Central Municipal Assembly and The Hunger Project (THP), a non-profit charitable organization, to educate the women on how to access credit facility and how they can manage their businesses with limited resources.

The participants included food vendors, market women and hairdressers.

Mrs Confidence Logo Nsoh, who represented the Municipal Chief Executive, appealed to the women to take their businesses seriously,  so that the Assembly can support them.

The Community Development Unit Head in the Municipality, Mr Malek A. Affum, thanked THP for their collaboration, and added that  the Unit was always seeking solutions to achieve its objectives regarding women development and empowerment.

Source: GNA

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Multiple salary payment still leakage on national purse – PAC https://www.ghanabusinessnews.com/2015/04/28/multiple-salary-payment-still-leakage-on-national-purse-pac/ https://www.ghanabusinessnews.com/2015/04/28/multiple-salary-payment-still-leakage-on-national-purse-pac/#comments Tue, 28 Apr 2015 16:23:56 +0000 https://www.ghanabusinessnews.com/?p=142707 A Public Accounts Committee (PAC) sitting in Parliament, which began on Monday and would run through Thursday, has observed that multiple payments of salaries is still a heavy let on…

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CedisA Public Accounts Committee (PAC) sitting in Parliament, which began on Monday and would run through Thursday, has observed that multiple payments of salaries is still a heavy let on the national purse.

The Government’s payroll, which is cleaned of “ghost names”, and being structured to upgrade it, is still suffering from salaries that have been lodged into bank accounts of dead employees or workers who have ceased working with their departments.

There are also people who are receiving pensions for which they are not entitled to.

These are some of the issues that were probed into at the committee’s sitting, which considered the Reports of the Auditor General of the Controller and Accountant General for the years ended 31st December 2012 and 2013.

Appearing on Monday were Ms Grace Francisca Adzroe, Controller and Accountant General, Mr Seth Terkper, Minister of Finance, and officials from Ghana Revenue Authority.

When it came the issue of salaries being lodged in accounts of dead people, Mr Richard Quashigah, a member of the Committee and member of parliament for Keta, informed the sitting the Controller and Accountant General Department had until recently lodged a cumulative amount of GH₵18,000 into his late father’s name despite the fact that he alerted the department of the anomaly.

Both the Controller and the Minister informed the Committee of measures being adopted to streamline the government payroll.

Ms Adzroe said the introduction of the biometric payroll system is helping to address the challenges of the salaries, and there had been delay in the payment of salaries of some categories of government workers not properly imputed biometric registration data.

She said the banks have been instructed to transfer such unclaimed payment to the governments dedicated account.

Source: GNA

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Malaria on the increase in Western Region – Survey https://www.ghanabusinessnews.com/2015/04/28/malaria-on-the-increase-in-western-region-survey/ https://www.ghanabusinessnews.com/2015/04/28/malaria-on-the-increase-in-western-region-survey/#comments Tue, 28 Apr 2015 16:18:10 +0000 https://www.ghanabusinessnews.com/?p=142705 Dr. Gloria Quansah-Asare, Deputy Director-General of the Ghana Health Service (GHS), has disclosed that according to the 2014 Ghana Demographic Health Survey (GDHS), Western Region is one of the three regions of…

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MalariaDr. Gloria Quansah-Asare, Deputy Director-General of the Ghana Health Service (GHS), has disclosed that according to the 2014 Ghana Demographic Health Survey (GDHS), Western Region is one of the three regions of the country with the highest prevalence of parasitemia.

This means that 36 out of 100 children under five years had the malaria parasite in their blood, she said.

Dr.Quansah-Asare was speaking at this year’s celebration of the World Malaria Day in Takoradi under the theme: “Invest in the future: Defeat Malaria. ”

She advised the public to use available preventive interventions for malaria, such as Insecticide Treated Nets (ITN) and Intermittent Preventive Treatment for pregnant women.

Dr. Quansah-Asare said one of the reasons for commemorating the day in the Western Region was the Mass Long Lasting Insecticidal Bed Nets (LLIN) Point distribution, to take place in the region in May this year.

She again advised the public to sleep in the nets every night to curtail malaria transmission.

Dr. Quansah-Asare said routine health facility data in 2014 showed that deaths due to malaria reduced by 35 per cent from 3,256 in 2011 to 2,200 in 2014, and malaria case fatality rate in under five children was 0 point 51 per cent as compared to 14 per cent some years back.

She said the 2014 GDHS also put ownership of insecticide treated bed nets in Ghana at 68 per cent, an increase over the 2003 GDHS figure of 18 per cent.

Dr. Quansah-Asare said Ghana must accelerate the campaign against malaria in line with Millennium Development Goal (MDG) Six, and to ensure attainment of MDGs Four and Five, more resources needed to be put into malaria control.

She called on the people to support the effort to establish a Malaria Fund to help increase financial resources for malaria control, and to help meet obligations for counterpart financing of malaria interventions.

Dr. Quansah-Asare asked corporate organizations to allocate financial resources for the country to embark on accelerated control to eliminate malaria, as outlined in the National Strategic Plan for malaria control in Ghana.

Dr. Keziah Malm, Acting Programme Manager of the National Malaria Control Programme (NMCP), said the programme was to introduce a new malaria intervention in all districts of the Upper West Region.

She said the intervention had been designed specifically for the region to reduce malaria infections.

Dr. Malm was not happy that malaria in the Western Region had increased, saying in the past, the Upper West, Upper East and the Northern Regions, had high incidence of the disease.

She said galamsey activities in the region had left big holes which had become the breeding places for mosquitoes, adding that galamsey operators must use the right processes in order not to create more breeding sites for mosquitoes.

Dr. Malm advised the public to cover all holes near their homes,  to prevent mosquitoes from breeding when it rained.

She said prompt and effective treatment was necessary in controlling malaria, and reducing deaths resulting from the disease.

Dr. Malm said all cases must be subjected to diagnostic test before treatment, adding that fever was sometimes taken for malaria, but the two were different ailments.

Dr. Salia Ohene, World Health Organization (WHO) Representative in Ghana, who spoke on behalf of development partners, said Malaria could be prevented or controlled through the use of LLINs,  and called for massive participation in LLINs Point Distribution in the Western Region.

She said increased malaria funding was needed in order to save lives, and further expand access to malaria prevention, diagnosis and treatment services in the country.

Dr. Ohene said more funds were urgently required to make effective tools already in existence available to address emerging issues, such as drug and insecticide resistance.

She said there was a global consensus to reduce malaria mortality and incidence rates by at least 90 per cent by 2030 and eliminate malaria.

“We the partners of Ghana on our part will continue to provide financial support and evidence-based guidance to all countries and stakeholders to better target malaria interventions, strengthen national health systems towards universal health coverage and accelerate progress towards a malaria-free Africa”, Dr. Ohene said.

Mr. Alfred Ekow Gyan, Deputy Western Regional Minister, said deaths due to malaria among pregnant women and children had reduced drastically as a result of the adaption of a multi-pronged strategy which includes Insecticide Treated Nets (ITNs), indoor residual spraying, compliance and adherence to the treatment of malaria as well as frequent public education and creation of awareness on public health issues.

Osagyefo (Dr) Kwamena Annimil VI, President of the Western Regional House of Chiefs and Omanhene of Wassa Fiase Traditional Area who presided, pledged the support of the Regional House of Chiefs and his traditional area for the country’s malaria programme.

Source: GNA

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Contractors call for fast-tracking of duty, tax exemption process https://www.ghanabusinessnews.com/2015/04/28/contractors-call-for-fast-tracking-of-duty-tax-exemption-process/ https://www.ghanabusinessnews.com/2015/04/28/contractors-call-for-fast-tracking-of-duty-tax-exemption-process/#comments Tue, 28 Apr 2015 16:12:21 +0000 https://www.ghanabusinessnews.com/?p=142703   The Chinese Construction Firm working on the new Cape Coast Sports Stadium has appealed to the Government to expedite action on the tax and duty exemption procedures for imported…

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TaxThe Chinese Construction Firm working on the new Cape Coast Sports Stadium has appealed to the Government to expedite action on the tax and duty exemption procedures for imported materials for the project.

According to them, the process between the Ministries of Youth and Sports, Finance, Trade and Industry and the Ghana Revenue Authority was “complex and bureaucratic”, delaying the work at a great cost to them.

Project Manager, Tang Weiyi made the appeal when the Minister for Youth and Sports, Dr. Mustapha Ahmed  inspected work progress as part of a “fact finding tour” of sports facilities and youth leadership training centers in the Central Region.

Construction Work on the 15,000 capacity multi-purpose stadium being funded with a $30million-Chinese-Grant started in August 2013, and is expected to be completed in August this year.

However, the Ministry of Youth and Sports, following request from the company in respect of the aforementioned and other delays, has extended the completion date of the project to October.

When completed, the stadium would have eight run-way tracks, natural grass football field, parking lots, various sports discipline courts, media, medical, guest and other rooms, track and field sports devices as well as other facilities.

Weiyi further appealed for security to be enhanced at the site, since work had reached a stage where very vital equipment would be installed, and also stressed the urgent need for settlement of site utility bills which was soaring.

The project is about 82 percent complete.

The Minister said that the Ministry would address all challenges.

Earlier at a meeting with staff of the regional National Sports Authority (NSA), the minister said the Robert Mensah Sports Stadium, would not be abandoned after the new stadium was completed since according to him, it had great potential.

He urged the NSA to find other revenue generating avenues to help maintain the stadium.

Dr. Ahmed stressed the need to create the opportunity and platform for people with talents and interest for other sports disciplines  and train them adequately to fill the vacuum created in that area adding that the concentration should not only be on football.

He said Government was committed to the development of other sports disciplines and called on the private sector to support efforts of the Government.

He called on the NSA and other related bodies under the ministry and also the public to support the Ministry succeed especially when it had had seven minsters in last six years and promised to work together with them to enhance the sector.

Source: GNA

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Bank of Ghana institutes measures to enhance corporate governance in banks https://www.ghanabusinessnews.com/2015/04/28/bank-of-ghana-institutes-measures-to-enhance-corporate-governance-in-banks/ https://www.ghanabusinessnews.com/2015/04/28/bank-of-ghana-institutes-measures-to-enhance-corporate-governance-in-banks/#comments Tue, 28 Apr 2015 15:09:08 +0000 https://www.ghanabusinessnews.com/?p=142701 The Bank of Ghana (BoG) in a bid to strength the country’s financial institutions,  has instituted measures to enhance good corporate governance, Mr Raymond Amanfu, Director and Head of Other…

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Bank of Ghana2The Bank of Ghana (BoG) in a bid to strength the country’s financial institutions,  has instituted measures to enhance good corporate governance, Mr Raymond Amanfu, Director and Head of Other Financial Institutions Department of the BOG, has announced at Shama in the Western Region.

As a result, the BoG had developed Corporate Governance Regulations that would be applicable to all entities regulated by the bank.

He said some of the measures include limits on tenure of directors, possession of certain competencies for directorship, provision of opportunities for induction and training of directors, installation of a good internal control and internal audit and compliance systems.

Mr Amanfu was addressing the 27th Annual General Meeting of Shareholders of the Lower Pra Rural Bank Limited at Shama and said “ we hope the implementation of these regulations would enhance the performance of boards and their banks”.

He urged the boards and managements to identify the various risks their banks were exposed to, and formulate strategies to mitigate them, while advising on the measures to be in place to achieve the minimum capital.

Mr Amanfu impressed on external auditors of Rural Community Banks to be more diligent, and ensure that auditing staff did not engage in conflict of interest situations.

“The BoG would not hesitate to report the conduct of auditing firms to the institute for redress if they are found wanting”, the Director warned.

He, however, stressed the need for external auditors to be rotated every six years in accordance with the BOG directive.

Mr Nathaniel Arthur, chairman of the Board of Directors of the bank, announced that it made a net profit before tax of an amount of GH₵2,712,309.71 as at December 2014,  as against GH₵1,095,535.27 in 2013, representing an increase of 148 percent.

He said during the period under review, the bank’s total deposits stood at GH₵49 million, representing an increase of 16.39, as against GH₵42.1 million in 2013,  saying that the economic situation had effect on the bank’s deposit mobilization.

Total advances disbursed under the lending programme in 2014 was GH₵36.4 million as against GH₵30.5 million in 2013 presenting a decrease of 19 percent, while in the same period investment stood at GH₵19.8 million against GH₵14.9 million representing 33 percent.

On assets, the Director indicated that it increased by 17.81 percent from GH₵49.4 to GH₵58.2 million in 2014.

In a speech read on his behalf, Mr Kwadwo A. Kusi, Managing Director of the ARB APEX Bank Limited congratulated the bank for an impressive performance and expressed his bank’s readiness to offer training for the staff, management and board to ensure availability of skilled personnel at all times.

Mr Kusi encouraged the shareholders buy more shares and endeavour to re-pay the loans to enable others benefit from it.

Source: GNA

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Ghana Cabinet approves ratification of arms trade treaty https://www.ghanabusinessnews.com/2015/04/28/ghana-cabinet-approves-ratification-of-arms-trade-treaty/ https://www.ghanabusinessnews.com/2015/04/28/ghana-cabinet-approves-ratification-of-arms-trade-treaty/#comments Tue, 28 Apr 2015 15:02:29 +0000 https://www.ghanabusinessnews.com/?p=142698 Cabinet has approved a memorandum for the ratification of the Arms Trade Treaty (ATT) which seeks to ensure standardisation in the arms trade and transfer to foster peace and security.…

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Arms treatyCabinet has approved a memorandum for the ratification of the Arms Trade Treaty (ATT) which seeks to ensure standardisation in the arms trade and transfer to foster peace and security.

The ATT is a multilateral treaty that regulates the international trade in conventional weapons.

The landmark ATT, regulating the international trade in conventional arms – from small arms to battle tanks, combat aircraft and warships – entered into force on December 24, 2014.

A Cabinet paper addressed to the Ministers of the Interior; and Foreign

Affairs and Regional Integration and copied to Ghana News Agency in Accra on Monday indicates that the two Ministers have been directed to take immediate action for parliamentary approval.

So far 130 States have signed the treaty while 67 States have ratified.

The ATT is an attempt to regulate the international trade of conventional weapons for the purpose of contributing to international and regional peace, reducing human suffering, and promoting co-operation, transparency and responsible action by and among states.

In an interview, Mr Baffour Amoa, President of West Africa Action Network on Small Arms and Light Weapons (WAANSA) said Ghana’s ratification is paramount as “We are considered as a major voice in the international community”.

He said through the efforts of WAANSA eight West African countries have achieved parliamentary approval of the treaty and six countries have deposited their instrument of ratification.

He said with the coming into force of the ATT, weapons transfer could now be regulated with strict accountability and “we hope as a result of the treaty the world may see reduction in unnecessary armed conflict.

Source: GNA

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President Mahama calls for packaging innovations https://www.ghanabusinessnews.com/2015/04/28/president-mahama-calls-for-packaging-innovations/ https://www.ghanabusinessnews.com/2015/04/28/president-mahama-calls-for-packaging-innovations/#comments Tue, 28 Apr 2015 12:33:57 +0000 https://www.ghanabusinessnews.com/?p=142696 President John Dramani Mahama on Monday called on members of the African International Advertising Association to use good packaging practices that could propel their goods and products onto international markets.…

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President John Mahama
President John Mahama

President John Dramani Mahama on Monday called on members of the African International Advertising Association to use good packaging practices that could propel their goods and products onto international markets.

He said packaging alongside promotion of tourist sites and other positives of Africans, could be instrumental to the growth and development of the continent in the coming days.

President Mahama made this call when he addressed members of the International Advertising Association (IAA) at their two-day “Africa Rising, the new consumer Generation IAA,” conference in Accra.

President Mahama said Africa was the continent of opportunities, and the harnessing of those opportunities would solely depend on the African Industrialists and professionals.

He announced that government was working around the clock to pass the Advertising Bill which would regulate the advertising industry to reduce irregularities in the sector.

Mr Faris Abouhamad, IAA President said the conference was not only relevant to businesses,  but those in communications and publications as well.

He said the world was changing,  and it was therefore necessary for all to adopt new measures that could propel trade and investment in the next generations.

Mr Joel Nettey, President of Ghana Chapter of IAA, said Africa was rising in times of advertising and promotion of goods on services adding that Ghana’s hosting of the conference demonstrated the confidence other international bodies were gaining in the activities of the African countries.

He urged Africans and managements of African businesses to tell their own stories by promoting all good aspects of the continent rather than allowing others to portray only the negatives to the international world.

The IAA president said the only way they could achieve that feat was to build networks to survive in the world economic trends and eliminate charlatans who parade themselves as marketing executives.

The IAA awarded President Mahama as a honorary life member in the International Advertising Association.

The IAA, which was established in 1938 as a non-profit is comprised of corporate members, organizational members, educators, as well as 50 chapters with individual members and young professionals from over 70 countries.

It is a globally-focused trade association with membership representing advertisers, agencies, educators and the media.

Its mission is to promote critical role and benefits of advertising as a vital force behind healthy economies and to promote brand building protection and advancement of freedom of commercial speech and consumer choice.

IAA also encourages greater practice and acceptance of advertising self-regulation and aims at providing a forum to debate emerging professional marketing communications issues and their consequences in the fast changing world environment.

Source: GNA

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Farmer jailed 10 years for stealing cassava https://www.ghanabusinessnews.com/2015/04/28/farmer-jailed-10-years-for-stealing-cassava/ https://www.ghanabusinessnews.com/2015/04/28/farmer-jailed-10-years-for-stealing-cassava/#comments Tue, 28 Apr 2015 07:54:04 +0000 https://www.ghanabusinessnews.com/?p=142678 Yaw Nkrumah, 28, Akokoaso based farmer in the Akyemansa District, has been sentenced to 10 years in jail for stealing cassava valued at GH₵500. Nkrumah pleaded guilty. Chief Inspector Adelaide…

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PrisonYaw Nkrumah, 28, Akokoaso based farmer in the Akyemansa District, has been sentenced to 10 years in jail for stealing cassava valued at GH₵500.

Nkrumah pleaded guilty.

Chief Inspector Adelaide Appiakorang told the Akim Swedru Circuit Court that the complainant, Mr Kwaku Opoku, lives with Nkrumah at Akokoaso in the Eastern Region.

She said on February 22, at about 1130 hours, Mr Opoku went to his farm and detected that someone had uprooted his cassava.

Chief Inspector Appiakorang said Mr Opoku investigated and noticed that Nkrumah was the one who stole the crop.

She said the complainant confronted Nkrumah, who admitted the offence and was arrested.

Source: GNA

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Mahama reiterates intention to fix power crisis https://www.ghanabusinessnews.com/2015/04/27/mahama-reiterates-intention-to-fix-power-crisis/ https://www.ghanabusinessnews.com/2015/04/27/mahama-reiterates-intention-to-fix-power-crisis/#comments Mon, 27 Apr 2015 16:12:20 +0000 https://www.ghanabusinessnews.com/?p=142676 The President, John Mahama on Saturday renewed his intention to fix the power crisis. He said this in an address read for him by the Minister of Education, Professor Jane…

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President John Mahama
President John Mahama

The President, John Mahama on Saturday renewed his intention to fix the power crisis.

He said this in an address read for him by the Minister of Education, Professor Jane Naana Opoku-Agyemang at the April Session of the 19th Congregation of the University of Education, Winneba on Saturday.

President Mahama said “during the State of the Nation Address, I made a promise to fix the power situation, and I intend to keep it”.

He said not too long ago, Parliament approved the deal to bring the emergency power barges into the country and gave the assurance that plans are far underway to obtain and install them.

The President said the general populace can attest that the power situation is getting better since the Easter festivities.

This is because some key power plants at the Volta River Authority (VRA) are back on, he said.

He said Nigeria has increased the quantum of gas supply being delivered to Ghana from as low as 20 million cubic feet to about 100 million cubic feet.

Just recently, the Ghana National Gas Company begun commercial production gas from the Jubilee Fields after successfully completing the commissioning of the $1 billion Western Corridor gas infrastructure development project in the Western Region, he said,

“The Aboadze Thermal Plant has also resumed operation with about 80 million standard cubic feet of gas from the Ghana Gas Processing Plant”.

This has helped the VRA to produce about 320 megawatts of electricity from three turbines at Aboadze, President Mahama said.

“With the completion of repair works on the Asogli Power Plant, it is hoped that in subsequent days, Ghanaians will enjoy an improved power situation”.

President Mahama said again, the first unit of the Kpone Thermal Power Plant (KTPP) will be inaugurated by June 2015 and expected to add 110 megawatts to Ghana’s power grid network.

When the project is finally completed, it will add another 110 megawatts of power to the national grid. He said.

“It is important to state that government is doing all within its ability to have the power challenges solved.

It is therefore unfair for certain people in society to create the impression that government is taking a nap on the Bahamas Island, the President stated.

“Certainly, government will not be moved by these ill-intended comments by its detractors.

Source: GNA

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Workers of Agricultural Development Bank urged to exercise restraint https://www.ghanabusinessnews.com/2015/04/27/workers-of-agricultural-development-bank-urged-to-exercise-restraint/ https://www.ghanabusinessnews.com/2015/04/27/workers-of-agricultural-development-bank-urged-to-exercise-restraint/#comments Mon, 27 Apr 2015 15:48:01 +0000 https://www.ghanabusinessnews.com/?p=142670 Mr John Esiape, the General Secretary of the Union of Industry, Commerce and Finance Workers (UNICOF), has appealed to workers of the Agricultural Development Bank (ADB) to exercise restraint while…

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ADBMr John Esiape, the General Secretary of the Union of Industry, Commerce and Finance Workers (UNICOF), has appealed to workers of the Agricultural Development Bank (ADB) to exercise restraint while the leadership engages management of the bank over their concerns.

Mr Esiape made the appeal at a meeting of the National Executive Committee (NEC) where they raised a number of issues against management and the Board of Directors of the bank on Saturday.

The meeting was co-chaired by Mr Mark B. Imoru, Chairman of the Professional and Management Staff Union of the ADB and Mr Anthony Akiasu, Chairman of the Local Union of ADB and was attended by over 50 NEC members.

They had wanted to pass a resolution for the removal of the Managing Director of the bank and the dissolution of the Board.

The NEC members had also asked workers of the bank to wear red arm band in support of their cause.

Mr Esiape told the executives from the various ADB branches in the country which formed the NEC that, the leadership of the Union would take their concerns as allegations and meet with the heads of the bank to hear their side.

He urged the executives to sensitise their members on the happenings in the bank for them to appreciate their cause, adding that, the ADB is a national asset and leading bank that supports the economy and must be protected.

Mr Imoru their position was not political, but a national call on Ghanaians to save ADB from total collapse, which would be a disaster to the economy.

Mr Wilson Agana, Chairman of the Tema District Council of Labour told the meeting that the battle to salvage the bank would not be an easy one, and that, the workers must not relent in their prayers.

He congratulated the NEC members for attending the meeting in their numbers and urged them to unite and be committed to the fight against wrong practices in the bank.

“Do not think for yourselves but for your children and the generations unborn, so we should let the bank stay for their future.”

Source: GNA

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