Ghana: PEF Urges Payment of Locked-Up Funds

14 January 2020

Chief Executive Officer of the Private Enterprise Federation, Nana Osei Bonsu has charged the government to follow up with the assurance of ensuring the central bank settles businesses who have their monies locked up in collapsed financial institutions.

He said the government must, as a matter of priority, ensure locked-up cash is within the next thirty days so business can sustain their operations.

In an interview with Citi Business News, Nana Osei Bonsu said the ultimate goal would be for businesses who found their monies locked up receive them within the next thirty days.

"For the president coming out that he's engaging Ministry of Finance and Bank of Ghana to try to create the quantum of resources to pay off those whose monies have been locked up, it is a critical game changer," he said.

Some customers of Gold Coast Fund Management, as well as GN Savings and Loans, have also embarked on several protests in order to access their monies.

Mr Osei Bonsu said PEF only wanted a resolution to the financial crisis for people to get their monies to do their business.

He added that: "Without these things, local Ghanaian businesses are losing their competitiveness. Mind you, it is an election year and it takes people to vote. Within the next thirty days, the BoG and Finance Ministry must make monies that are owed to these people available on the back of what the president promised."

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