Ghana: Prosecute Persons Implicated in Collapse of Banks, Microfinance Coys - ICU

Government has been called upon to prosecute persons who fraudulently contributed to the collapse of banks and microfinance companies in the country.

The General Secretary of the Industrial Commercial Union of Ghana (ICU) Ghana, Mr Solomon Kotei made the call during the Accra Regional Delegates' Conference in Accra yesterday.

The meeting was to discuss the regional activities and also conduct elections for the youth, women and regional council members.

He said prosecution of such people would serve as deterrent to others.

Mr Kotei said Government should expedite action on the cases of the collapsed banks and microfinance companies, adding that monies of those found not culpable should be returned to them so that they re-establish themselves in businesses and provide the teeming unemployed youth with jobs.

Mr Kotei said the scourge of unemployment in the country had been exacerbated by the collapse of large number of banks and microfinance companies which provided lifeline employment to many unemployed youth as a consolatory alternative for livelihood.

"The collapse or closure of these entities for supposed financial impropriety has aggravated the fight against unemployment and heightened the poverty index in the country, since one person losing their job has a chain reaction in that person's family tree," he added.

The General Secretary commended the Government for paying all investors and workers of affected banks and microfinance companies.

Mr Kotei appealed to Government to revamp the National Health Insurance Scheme (NHIS) by investing in it through timeous payment to service providers to make the scheme more accessible.

He said Government should also facilitate health service to all and sundry, especially citizens who cannot afford health service on the "Cash and Carry" system.

"The coverage of the must be expanded to include critical illness like cancer, cardiovascular, kidney, liver, prostrate and other critical disease whose treatment is costly and beyond the pockets of the ordinary worker but are common among a great majority of the populace," he added.

He called on Government to lower the rate of tax exacted on formal workers in the form of "Pay as you earn" (P.A.Y.E) rather substantially extend the tax to include all those operatingin other sectors of the economy.

The Accra Regional Officer, Mr Thomas Atiah in his address said the coronavirus disease (COVID-19) has impacted negatively on businesses.

"The negative impact of COVID-19 cannot be grossed over as it almost brought our activities to a standstill, more especially during the lockdown in 2020 when business were grounded, especially in the hospitality sector," he added.

Mr Atiah stated there had been growth in membership of the union and appealed to leaders to step up their efforts for more workers to join the union.

On security of workers he appealed to security agencies to step up their operation to protect the citizenry and workers.

More From: Ghanaian Times

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