The General Agriculture Workers Union (GAWU) is lobbying to be included on the board of the Agriculture Development Bank.
The Union was very instrumental in kicking against moves to merge ADB with NIB to meet the Bank of Ghana’s GH¢400million minimum capital requirement.
The two banks are now going to benefit from the GH¢2 billion support being offered by the Ghana Amalgamated Trust.
GAT is an arrangement of private pension funds to inject GH¢2 billion into supporting solvent and well-run indigenous banks, which were otherwise having difficulties meeting the new minimum capital requirement of GH¢400 million.
The other banks benefiting from the GAT bailout are the merged Omni/Sahel Sahara Bank, Universal Merchant Bank and Prudential Bank.
This means it is likely the boards of the five banks will be altered to accommodate the new shareholders.
The General Secretary of GAWU, Edward Kawere tells Starr Business GAWU wants to be on ADB’s board.
“If we are invited to participate in the board of ADB we would welcome it. But we are not necessarily saying that we must be on the board for things to be done right or if we are not on the board things will not be done right.
“It is just to let all of us know that when we are talking about a board we are talking about a board that has got diverse institutional representation as one thing and the board also has diverse expertise, economists, bankers, trade unionists, farmers among others,” said Kawere.
Source: Ghana/Starrfmonline.com/103.5FM
