Joe Jackson, the Director of business operations at Dalex Finance, claims that future governments will find it extremely difficult to reinstate the licenses of the banks that fell a few years ago.
His remarks follow a pledge by former President John Dramani Mahama that if he won the general elections in 2024, he would reinstate the banking licenses that he claimed had been unfairly revoked by the Akufo-Addo administration.
The National Democratic Congress (NDC) candidate for President further vowed to make sure that skilled workers who lost their employment as a result of the banking sector’s cleanup, will be given new opportunities.
“We will restore indigenous investment and the banking and investment sector. We will create a tiered banking system that will serve the various segments of the market. We will give an opportunity for experienced banking hands who were laid off to secure their careers once more and move away from the menial jobs that they were forced into. As far as practicable, the banking licenses that were unjustly cancelled by this government will be restored.”
John Dramani Mahama
He made this commitment in his acceptance speech, after winning the NDC primary elections last week.
Mr. Joe Jackson, who participated in the discussion on Mahama’s remark, expressed doubt about the commitment.
“It’s really going to be a difficult thing to do because of the entanglement and so much time has passed. Assuming that Mr. Mahama wins the 2024 general elections, he will assume office in 2025, which will be close to 7 years since the clean-up in the banking sector.
“It becomes very difficult to understand how you are going to restore all these licenses. When you restore their licenses, does it mean that they will come back and re-capitalise? Set up another institution to get their clients back? The practicality is not that simple, restoring licenses is a very complicated issue. Were the banks unjustifiably taken? And how practical is it? It’s going to be difficult, challenging and not practicable.”
Joe Jackson
He encouraged the government to take action so that Ghanaians could control the banking industry.
“Unfortunately, the fallout from the financial sector clean-up meant that the concentration of our financial sector in foreign hands is now higher than desirable. Some policies should be put in place to give Ghanaians the opportunity to take charge of the financial sector.”
Joe Jackson
Mahama Seeks Massive Votes In Kumawu For Parliamentary Candidate
John Dramani Mahama, the Presidential candidate of the opposition National Democratic Congress (NDC), is pleading with party members to turn out in large numbers to support the party’s parliamentary candidate for Kumawu in the impending by-election.
The NDC nominated Akwasi Amankwaa, well known as “Tom Cee,” as their candidate for the Kumawu seat in the recent presidential and parliamentary primaries.
He will compete against Ernest Yaw Anim, a parliamentary candidate for the New Patriotic Party. The Kumawu by-election has been scheduled for May 23 by the electoral management organization Electoral Commission (EC).
After Philip Basoah, a 54-year-old MP for the New Patriotic Party (NPP), passed away in March, there will be a by-election.
The two major political parties, the ruling New Patriotic Party and the opposition NDC, are both interested in the by-election, with the former hinting that it will be retained for the NPP and the latter sure of stealing the seat.
The former President urged NDC members to make sure the parliamentary candidate wins the by-election, while speaking with the Muslim community in Kumawu.
“We all know that constitutionally, after the death of our younger brother Philip Basoah, there has to be a by-election. We acclaimed Akwasi Amankwaa for the 2024 general elections, but now that we are in for a by-election, he will be representing the party.
“I’m calling on our Zongo chiefs, Imams and all of you to pray and vote massively for Akwasi Amankwaa to win the seat. NDC brings relief anytime we are in power. We in the NDC do not discriminate, we share projects across the board. Though we have not won the Kumawu seat before, all beautiful projects in Kumawu were undertaken by the NDC government. We know that your prayers and God’s grace will bring us to power.”
John Dramani Mahama
Akwasi Amankwaa, the party’s parliamentary candidate for the Kumawu by-election, was also formally introduced to the Kumawuhene, Barima Sarfo Tweneboah Kodua II, by Mr. Mahama.
Together with the NDC leadership, Mr. Mahama was in Kumawu to campaign ahead of the by-election on Tuesday.
Allegations that recent infrastructure work being done in the Kumawu constituency is intended to sway voters ahead of the by-election have been refuted by the government.
The town has undergone substantial growth in the last few days, after years of no notable improvements. Numerous previously unpaved roads in the region have been paved, and additional road development is presently in progress.
READ ALSO: NPP To Win Kumawu Seat– Ahiagbah
