ADB Workers Fear Possible Job Losses

The Professional and Managerial Staff Union (PMSU) of the Agricultural Development Bank PLC (ADB) has expressed worries over the proposed share disposals involving the bank. Union leader, Mr. James Obeng-Gyan, cautioned the government, Bank of Ghana, ADB’s Board and management to prioritize recapitalisation, sound corporate governance and institutional recovery to safeguard the bank and its workforce from uncertainty.

He emphasized that the bank's future should be viewed beyond short-term commercial interests, encompassing its role in agriculture, agribusiness, rural communities and the national economy. Reports of the Bank of Ghana's remaining 13.45% share and the possible disposal of the government's 83.52% stake in ADB are under public scrutiny, according to Obeng-Gyan.

The union maintains that while strategic transactions are acceptable, they require transparency, independent valuation and clear safeguards for the national interest. Obeng-Gyan urged the government to consider recapitalisation as a stable alternative to ownership changes that might undermine ADB's development mandate. He also highlighted the need for stronger risk management, improved loan recovery, digital transformation, operational efficiency and effective corporate governance.

Concerns were raised about the Bank of Ghana's Prompt Corrective Action measures and proposed staff rationalisation. Any restructuring must be lawful, transparent and consulted with organised labour, he insisted. Obeng-Gyan appealed for the strengthening of ADB's foundations rather than making employees the scapegoats of historical managerial failures.

He called for better management of promotions, salary structures, pensioners' medical care, performance targets and the conditions of long-serving outsourced and contract workers. The union also advocated for stronger labour-management relations and welcomed plans for a two-day workshop to enhance engagement.