Former President John Dramani Mahama has provided details of his decision to restore the licenses of some indigenous banks that were collapsed in 2019 if elected in the 2024 general elections.
Mr. Mahama announced these plans during his acceptance speech as the NDC flagbearer in Tamale last week.
Speaking at the CEOs Summit in Accra on May 22, Mr. Mahama expressed that some banks were unjustifiably collapsed due to personal vendettas against major shareholders in the financial sector.
“Definitely l gave you an example, I said one bank was shut down because there was criminal prosecution against its major shareholder. It had nothing to do with the bank, and there might be other such cases, so we need to look at all of them and see whether the withdrawal was just or it wasn’t”.
“And the point even is, if you wanted to apply such position, with this Domestic Debt Exchange Programme (DDEP), are you going to shut down existing banks? Existing banks have been weakened by this DDEP. If you apply the same principles you applied to indigenous banks, you [government] probably will withdraw licenses of some existing banks,” the former President explained.
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