Mineworkers demand release of $34.5 million in trapped savings
The Ghana Mine Workers' Union has delivered a petition to the central bank on Thursday, demanding more than 380 million cedis that they say they are owed and that have been frozen since the financial sector clean-up.
The Ghana Mine Workers’ Union has petitioned the central bank, demanding over $34.55 million in frozen savings belonging to over 19,000 workers. These funds include provident funds, welfare savings, and severance packages that have been held since the 2017-2019 financial sector clean-up. The clean-up, aimed at addressing insolvency and governance issues, led to the revocation of licenses for more than 400 financial institutions.
The union's general secretary, Abdul-Moomin Gbana, highlighted that the affected members, including retirees, redundant workers, and widows, are struggling to pay for essential services like healthcare, education, and housing. Despite repeated assurances, the union has kept members from protesting since 2021, now threatening further industrial action and requesting a meeting with the Bank of Ghana's governor and the finance minister.
The International Monetary Fund has also flagged these unresolved legacy issues in its 2023 and 2024 country reports.
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- Mineworkers demand release of $34.5 million in trapped savings myjoyonline.com
