Ghana’s President Akufo-Addo has authorized the Ministry of Finance to distribute GH¢1.5 billion to consumers affected by the banking sector cleanup.
Dr. Mohammed Amin Adam, the Finance Minister, stated this over the weekend during a UK Town Hall meeting, noting that the disbursement is likely to take place between now and October.
Dr Adam accepted that the government should not be held accountable for its investment decisions, but he also stated that mistakes were made in this situation and that individuals were not well-informed.
He stated that some people have suffered terribly, with some even losing their lives as a result of the clean-up.
“Ideally, the government should not be held accountable for individuals’ investing decisions, but this administration is so concerned.
“Mistakes were made and people were not well-informed, and they didn’t know who to consult to be advised, but we also know that the people who are affected are suffering, and we have heard that some people have died and others had to commit suicide.”
“This government is so caring that in the first place, we granted some bailout to all the affected and I want to tell you again that the President has directed that we do another bailout.
“So between now and October, we will release 1.5 billion Ghana Cedis to the affected people,”
