{
  "id": 16931396,
  "title": "ADB union raises alarm over job risks, demands safeguards in proposed share sale",
  "url": "https://urgent.news/2026/10/28/adb-union-raises-alarm-over-job-risks-demands-safeguards-in-proposed-16931396",
  "topic": "world",
  "section": "World",
  "published": "2026-10-28T17:13:46.000Z",
  "source": {
    "name": "MyJoyOnline Ghana",
    "slug": "myjoyonline-ghana",
    "url": "https://www.myjoyonline.com/adb-union-raises-alarm-over-job-risks-demands-safeguards-in-proposed-share-sale/"
  },
  "original_language": "en",
  "account": "The Professional and Managerial Staff Union (PMSU) of Agricultural Development Bank PLC (ADB) has expressed alarm over potential job losses following proposed share disposals at the bank. The union's concerns center around safeguarding jobs and preserving ADB's mandate to support agriculture, agribusiness, and rural communities.\n\nAt the union's National Executive Council meeting, PMSU Chairman James Obeng-Gyan urged the government, Bank of Ghana, ADB's Board, and management to prioritize recapitalization, stronger governance, and institutional recovery. The meeting was held under the theme \"Safeguarding ADB's Institutional Sustainability and Jobs in the Fulfilment of Its National Development Mandate.\"\n\nReports of a potential sale of the Bank of Ghana's 13.45% shareholding in ADB and the possibility of selling the government's 83.52% stake raised red flags. Obeng-Gyan cautioned that any ownership changes needed to be carefully scrutinized by the public. While the union doesn't oppose strategic transactions, it demands transparency, independent valuation, and clear protections for the national interest.\n\nObeng-Gyan urged the government to consider adequate recapitalization as an alternative to ownership changes that could compromise ADB's development mandate. He also highlighted the need for stronger risk management, improved loan recovery, digital transformation, and enhanced operational efficiency for the bank's recovery.\n\nConcerns were raised about the possible impact of the Bank of Ghana's Prompt Corrective Action measures and proposed staff rationalization. Obeng-Gyan emphasized that any restructuring must be lawful, transparent, and conducted in consultation with organized labor. He argued that employees should not be made to bear the consequences of long-standing institutional issues without a thorough examination of the decisions leading to them.\n\n\"Let us strengthen the foundations of ADB rather than make its employees the convenient casualties of historical managerial failures,\" Obeng-Gyan stated.",
  "summary": "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.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}