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General News of Friday, 21 May 2021


Why go for €170m loan to build another bank when there's ADB? - Social media users ask

Finance Minister, Ken Ofori-Atta Finance Minister, Ken Ofori-Atta

Social media has been set ablaze once again after news broke that government has secured a loan of €170 million loan to build a new national bank, Development Bank Ghana (DBG).

The new bank, according to the Finance Minister, Ken Ofori-Atta is an integral feature of the GH¢100 billion Ghana Cares ‘Obaatampa’ Project.

Reacting to this, some Ghanaians have wondered why the government can not pump money into the existing Agricultural Development Bank (ADB) to make it resilient and competitive in the banking sector.

Pouring out their thoughts on micro-blogging site, Twitter, some users accused government of being insensitive to the plights of Ghanaians, adding that, they are only interested in their selfish gains.

They furthered that posterity will judge them for collapsing some local banks and financial institutions but going ahead to take a loan to build a new bank.

One of the tweeps said, "We have NIB, ADB still you go for loan of €170m to build another bank. Till when will these leaders think about the entire nation rather than their families and parties..? What will Development Bank Ghana do that ADB & NIB can’t do.3da bibini begyae gyimi no mebo s3 papa."

"You spent so much money to clean the financial sector just to go for a loan to establish a bank. Politicians there is God oooo."

"Y3 te sika so na y3 br3"...has now gone for loan again..ebi for what ahh "Development Bank Ghana" kyere3 s3 "Ghana beyond Aid" ay3 beans...La Borrow paa ni," another said.

Below are some social media reactions on the impending establishment of Development Bank Ghana