Mineworkers petition Finance Minister over GH¢380m locked-up funds, threaten strikes

The Ghana Mineworkers’ Union (GMWU) has demanded that the Finance Minister address over GH¢380 million in locked-up funds belonging to more than 19,000 mineworkers. The union warned that continued delays in resolving these financial issues could lead to widespread strikes across the mining industry. The dispute stems from the aftermath of a 2021 financial sector clean-up by the Bank of Ghana, which resulted in the locking of various funds such as Provident Fund contributions, Welfare Funds, Leave Savings, Personal Investments, and Severance Packages.

The union has been engaging the Bank of Ghana since 2021 but has not yet secured a resolution. Despite assurances from the Bank of Ghana and other stakeholders, the union remains frustrated. The GMWU cited public statements from the Bank of Ghana Governor between 2022 and 2025, as well as IMF reports from 2023 and 2024, which highlighted the need to address these legacy issues.

However, the union expressed concern over recent comments from the Finance Minister that suggested the Bank of Ghana should recover assets from weak or insolvent institutions to settle depositors, contradicting earlier assurances of deliberate policy interventions. The union warned that the prolonged delays were jeopardizing industrial harmony within the mining sector, referencing past instances of industrial unrest in the sector.

The GMWU is demanding the full refund of all locked-up deposits and an urgent meeting with the Finance Minister to resolve the crisis, emphasizing that denying workers access to their funds undermines industrial harmony and social stability.