Akufo-Addo's "inept" handling of banking crisis cause of job losses- Mahama
The "inept handling of the banking crisis" has lead to the almost collapse of the local finance sector, Mr Mahama said at the National Democratic Congress delegates congress underway at the Trade Fair Centre in Accra.
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The "inept handling of the banking crisis" has lead to the almost collapse of the local finance sector, Mr Mahama said at the National Democratic Congress delegates congress underway at the Trade Fair Centre in Accra.
"Banks belonging to Ghanaians have been closed and the Akufo-Addo administration predatory approach towards indigenous investors in that sector has created a panic run on the remaining surviving Ghanaian financial institutions," the ex-president said.
According to him, "this has gravely affected small and medium enterprise lending and has led to significant job losses."
Two local banks were collapsed by the Bank of Ghana in 2017 over liquidity challenges.
READ MORE: NDC elects national executives today
Five more banks were consolidated in 2018 to for the Consolidated Bank of Ghana, making the third largest bank in Ghana.
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