“Where was your concern for indigenous firms during 4 years of dumsor?”Veep Jabs Mahama over banking crisis


President Dr.  Mahamudu Bawumia has
thrown jabs at former President John Dramani Mahama over the latter’s recent comments
on the banking crisis in Ghana.

Speaking during the
launch of a landmark affordable housing project in Amasaman, a suburb of Accra
Wednesday, Dr. Bawumia asked Mr. Mahama to desist from commenting on the
banking sector crisis being solved by the Akufo-Addo administration after
spearheading the “degeneration of the sector”.

He said the government
has saved 4.6million depositors “in the interest of financial stability and
national security.”

Reacting to claims by
Mr. Mahama that he will restore the crisis when he is re-elected, he quizzed.
“Where was your concern for indigenous firms during 4 years of dumsor?”

Interacting with
Ghanaians on social media on Thursday, Mahama indicated that, the action by the
Bank of Ghana has not only threatened the survival of the affected companies,
but also the country’s security.

“The crisis has created major problems in the banking
sector and financial sector including deepening the already widely held
mistrust and lack of confidence in the system by Ghanaians. It appears to have
no end in sight. It has also dealt a significant blow to the indigenous banks
because such institutions have no external support to count on. While this
development appears to be a threat to only the businesses that have been shut
down, it is in fact a threat to our national security. The development in the
banking and finance system and the matters arising call for grave concern on
all who have been affected by this financial sector turmoil especially because
it is an issue that threatens the country’s security.”

He also said about 20,000 direct jobs have been
lost because of the financial sector clean-up.

“About 20,000 people have lost jobs directly due
to the 420 financial institutions that have been shut down. We have not even
added the indirect jobs…By the time we do the total calculation, about 40,000
to 50,000 people may have lost their jobs,” he added.

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