Mineworkers’ Union demands release of funds belonging to 19,000 miners

The Ghana Mineworkers' Union is demanding that funds belonging to over 19,000 miners be released, which are currently trapped in financial institutions affected by the Bank of Ghana's sector clean-up. These funds include provident and welfare savings, leave savings, individual deposits, and severance packages for the union's members.

The union argues that the affected miners should not be held responsible for the failure of the institutions where they placed their savings, as these institutions were licensed and regulated by the Bank of Ghana. The union has expressed frustration at the ongoing delays in addressing the issue, despite assurances from successive Bank of Ghana governors and references to International Monetary Fund reports from 2023 and 2024.

The concern is heightened because these funds are workers' accumulated savings, which are meant to provide financial security during retirement, times of need, or after leaving employment. The Finance Minister, Dr Cassiel Ato Forson, has stated that the Bank of Ghana must recover the assets of the affected institutions and use the proceeds to settle depositors.

However, the union contends that the Ministry of Finance does not currently possess the necessary funds to directly settle these outstanding claims. The union is set to present a petition to the Finance Minister, Bank of Ghana Governor Dr Johnson Asiamah, and the Minister of Lands and Natural Resources, Armah Kofi Buah, urging urgent action to recover and release the frozen funds to the affected miners.