I don’t have faith in state-owned banks – Franklin Cudjoe

The President and Founder of IMANI Centre for Policy and Education, a policy Think Tank, Mr. Franklin Cudjoe has said he does not have faith in state owned- banks.

His comment comes after report that the President Nana Addo had secured a Seventy Million Euro (€170 million) facility for the establishment of a new national bank, the Development Bank Ghana (DBG).

DBG, under the GH¢100 billion Ghana Cares ‘Obaatampa’ Project, seeks to revitalization the Ghanaian economy following the devastating impact of the global COVID-19 pandemic which was first recorded in March last year.

Signing the agreement, the President who is currently on an official visit to Belgium said the Development Bank Ghana is going to play a very important part in the rapid economic transformation of the country.

Reacting to the news however, in a twitter post sighted by GhanaPlus.com, Mr Cudjoe said “Our President successfully borrows €170m to set up another State-owned bank. I do not have faith in state-owned banks. What do you think?.”

Our President successfuly borrows €170m to set up another State-owned bank. I do not have faith in state-owned banks. What do you think?

— Franklin CUDJOE (@lordcudjoe) May 20, 2021

Source: GhanaPlus.com