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Politics of Wednesday, 14 August 2019

Source: mynewsgh.com

NPP governement known for collapsing businesses – Hassan Ayariga

Hassan Ayariga432 Founder of All People's Congress(APC) - Hassan Ayariga

Leader and founder of the All Peoples’ Congress (APC), Dr Hassan Ayariga says the ruling New Patriotic Party (NPP) is better known for collapsing businesses rather than creating employment for citizens.

Dr Hassan Ayariga revealed that since the New Patriotic Party (NPP) took over governance, they have shown nothing but collapsing of Banks, folding up of Companies and Bankruptcy among others which has resulted in thousands of people losing their sources of livelihoods.

He made the remark on A1 radio in Bolga when speaking to Samuel Mbura monitored by MyNewsGh.com and without mincing words, he accused the NPP government of rendering many people jobless due to some of its policies it implemented.

“Businesses are bad everywhere if you don’t know, look at the banks. The banks that are supposed to help our dear Ghanaian people have been destroyed and they are introducing foreign banks”, he said.

He mentioned the collapse of Beige Bank, Heritage Bank, Capital Bank, UT Bank, UniBank among others as a clear case of hard times in the country contrary to the campaign promises of creating enough jobs by Nana Akufo-Addo prior to the 2016 elections.

Collapsed Banks

The Akufo-Addo administration has been heavily criticized for the collapse of seven (7) banks within 2 years of taking over from the erstwhile NDC administration.

Capital and UT Banks collapsed and were acquired by GCB Bank in 2017. The government collapsed uniBank, Sovereign, Royal, Beige and Construction Banks collapsed in August 2018 following liquidity issues.

Earlier this year, the Bank of Ghana revoked the license of Heritage Bank following what the Central Bank claimed was a number of anomalies relating to its licensing, the sources of its capital, and related party transactions.

Although the collapsing of the bank was not linked to liquidity issues, according to the Central Bank, it folded it up.

It is estimated that about 15,000 people have lost their jobs in relation to the fold-up of some businesses, inflicting untold hardship on Ghanaians.

Last November, some eight hundred (800) workers of defunct UT and Capital Banks, who lost their jobs more than one year announced that life was becoming very unbearable for them.