• About
  • Contcat Us
  • Privacy Policy
Sunday, October 1, 2023
Primenews.com.gh
No Result
View All Result
  • HomePage
  • Ghana News
  • Politics
  • Entertainment
  • Sports
  • HomePage
  • Ghana News
  • Politics
  • Entertainment
  • Sports
No Result
View All Result
Primenews.com.gh Logo
No Result
View All Result
Home Politics

Banking sector would have collapsed if NDC were in power – Bawumia

by Mutala Yakubu
2020-02-11
in Politics
Banking sector would have collapsed if NDC were in power – Bawumia
38
VIEWS
Share on FacebookShare on TwitterShare on WhatsApp

The Vice President Dr. Mahamadu Bawumia at a town hall meeting in Kumasi today said the cleanup exercise in the banking sector last year showed the competence of the Akufo-Addo government and the New Patriotic Party (NPP).

In 2019 the government with supervision from the Bank of Ghana went on a clean up-exercise of the banking, specialized deposit-taking (SDI), and non-banking financial institutions (NBFI) sectors.

President Akufo-Addo said the prudent measures taken by his administration and the Bank of Ghana to save and sanitise the banking sector are beginning to yield positive results.

READ ALSO: Banking sector clean-up yielding positive results – Akufo-Addo

READ ALSO

NPP Super Delegates Congress: 4 qualify, Addai-Nimo, Agyarko to battle for final spot on September 2

‘I swear God, I will give you a showdown’ – Kennedy Agyapong threatens Bawumia, Akufo-Addo (video)

Bawumia says the National Democratic Congress (NDC) would not even have had the competence to sanitize the sector and it would have collapsed totally if there were in power.

“They didn’t even have the space find money to sanitize the sector, left to the NDC our banking system would have collapsed by now. They are now going around saying they will pay depositors their money, you couldn’t even pay teacher allowance and you are saying you can pay depositors. If they could have done it they would have done it a long time ago. We are cleaning up the banking sector and we are now moving into the real sector of the economy”.

John Mahama who is the flagbearer of the NDC, however, expressed concern over the effect the collapse of banks and other local financial institutions is having on individuals, businesses and especially thousands of employees who lost their jobs in the process.

ADVERTISEMENT

In 2019 the BoG revoked the licences of 9 universal banks, 347 microfinance companies, 39 microcredit companies, 15 savings and loans companies, eight finance house companies, and two non-bank institutions.

READ ALSO: Banking sector clean up : Only ₵731m out of ₵10.1b loans recovered – BoG

According to the BoG they are committed to ensuring that the banking, SDI, and NBFI sectors remain resilient, inclusive, and supportive of Ghana’s economic growth trajectory.

 

ShareTweetSend
Previous Post

Akufo-Addo has kept his promise of reducing rate of borrowing – Bawumia

Next Post

Bawumia still maintains they have ‘arrested’ the depreciating cedi

Related Posts

NPP Super Delegates Congress: 4 qualify, Addai-Nimo, Agyarko to battle for final spot on September 2
Politics

NPP Super Delegates Congress: 4 qualify, Addai-Nimo, Agyarko to battle for final spot on September 2

2023-08-26
‘I swear God, I will give you a showdown’ – Kennedy Agyapong threatens Bawumia, Akufo-Addo (video)
Politics

‘I swear God, I will give you a showdown’ – Kennedy Agyapong threatens Bawumia, Akufo-Addo (video)

2023-08-26
NPP Super Delegates Congress: EC rejects Ashanti Regional Youth Organiser’s vote after displaying cast ballot
Politics

NPP Super Delegates Congress: EC rejects Ashanti Regional Youth Organiser’s vote after displaying cast ballot

2023-08-26
NPP’s Special voting: Delegates to decide fate of 10 aspirants today
Politics

NPP’s Special voting: Delegates to decide fate of 10 aspirants today

2023-08-26
Afriyie Akoto
Politics

Show me love on Saturday – Afriyie Akoto to NPP’s 961 super delegates

2023-08-25
WhatsApp to allow users to edit messages within 15 minutes
Politics

By-election: Kumawu elects new MP today

2023-05-23
Next Post
Bawumia still maintains they have ‘arrested’ the depreciating cedi

Bawumia still maintains they have 'arrested' the depreciating cedi

Godwin Attram threatens to recall Christopher Nettey from Kotoko

Godwin Attram threatens to recall Christopher Nettey from Kotoko

ADVERTISEMENT

TRENDING NEWS IN GHANA

Joao Palhinha scored his first goal of the season for Fulham

Palhinha earns draw for 10-man Fulham at Arsenal

2023-08-26
Bellingham scores again as Real Madrid edge Celta Vigo

Luis Rubiales: FIFA suspends Spanish football chief amid World Cup kiss row

2023-08-26
‘I swear God, I will give you a showdown’ – Kennedy Agyapong threatens Bawumia, Akufo-Addo (video)

‘I swear God, I will give you a showdown’ – Kennedy Agyapong threatens Bawumia, Akufo-Addo (video)

2023-08-26
NPP Super Delegates Congress: EC rejects Ashanti Regional Youth Organiser’s vote after displaying cast ballot

NPP Super Delegates Congress: EC rejects Ashanti Regional Youth Organiser’s vote after displaying cast ballot

2023-08-26
NPP’s Special voting: Delegates to decide fate of 10 aspirants today

NPP’s Special voting: Delegates to decide fate of 10 aspirants today

2023-08-26
The Mahamasina stadium - with a capacity of nearly 41,000 - regularly hosts major sporting and other public events

Madagascar crush: 12 dead at island games’ opening ceremony

2023-08-26
A number of anti-French rallies have been held in Niger in recent weeks

Niger junta gives French envoy 48 hours to leave

2023-08-26
Two days before Yevgeny Prigozhin reportedly died in a plane crash, he recorded a video in a location thought to be Mali

Wagner – built by blood and treasure in Africa

2023-08-26
Bellingham scores again as Real Madrid edge Celta Vigo

Jenni Hermoso ‘didn’t consent’ to Luis Rubiales kiss as Spain players refuse to play

2023-08-26
Bellingham scores again as Real Madrid edge Celta Vigo

Sports Ministry launches AfroFit competition

2023-08-26
ADVERTISEMENT

Must Reads

Niger junta gives French envoy 48 hours to leave

Wagner – built by blood and treasure in Africa

Jenni Hermoso ‘didn’t consent’ to Luis Rubiales kiss as Spain players refuse to play

Sports Ministry launches AfroFit competition

Sterling double helps Chelsea see off Luton

Cristiano Ronaldo scores hat-trick and Sadio Mane twice for Saudi Pro League side Al-Nassr

About

A Prime Network Limited Website.

Follow us

No Result
View All Result
  • HomePage
  • Ghana News
  • Politics
  • Entertainment
  • Sports

©2015 - 2020 Primenews.com.gh

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.