ADB union raises alarm over job risks, demands safeguards in proposed share sale
The Professional and Managerial Staff Union (PMSU) of Agricultural Development Bank PLC (ADB) has called for safeguards against job losses, raising concerns over proposed share disposals involving the bank.
The Professional and Managerial Staff Union (PMSU) of Agricultural Development Bank PLC (ADB) has expressed alarm over potential job risks associated with proposed share disposals. The union wants safeguards to protect employees and preserve the bank's mandate to support agriculture, agribusiness, and rural communities. At a recent National Executive Council meeting, PMSU Chairman James Obeng-Gyan urged various stakeholders to prioritize recapitalization, stronger governance, and institutional recovery.
Reports of the Bank of Ghana's potential sale of its remaining 13.45% shareholding and a possible disposal of the government's 83.52% interest have raised concerns. While the union does not oppose strategic transactions, it demands transparency, independent valuation, and clear protections for the national interest. Obeng-Gyan suggested recapitalization as an alternative to ownership changes that could jeopardize the bank's development mandate.
He also raised concerns about the Bank of Ghana's Prompt Corrective Action measures and proposed staff rationalization. Any restructuring should be lawful, transparent, and conducted in consultation with organized labor. Obeng-Gyan emphasized that employees should not suffer the consequences of institutional problems without scrutiny of the decisions behind them.
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