The General Secretary of the Industrial and Commercial Workers Union (ICU) Ghana, Mr. Morgan Ayawine, has emphasized the urgent need for the government to recapitalise banks in serious distress, following the presentation of the 2026 budget statement by Finance Minister Dr. Cassiel Ato Baah Forson.
While commending the full recapitalisation of the National Investment Bank (NIB), Mr. Ayawine warned that neglecting other distressed banks could hamper Ghana’s economic growth.
“The Minister happily talked about a successful recapitalisation of the NIB, which was supposed to merge with the Agricultural Development Bank (ADB). But through government effort and our interventions as labour, the government listened and allowed the two banks to operate distinctly,” he said.
He added:
“The current government has done well by fully recapitalising NIB. However, we need to escalate support for other banks that are seriously distressed.”
Mr. Ayawine also urged the government to revive the textile sector as a strategic move to create jobs, highlighting its role in driving the 24-hour economy policy.
He appealed for the resuscitation of existing companies and pledged ICU’s commitment to collaborate with stakeholders, company management, industries, and the government to enhance economic growth.
By Benjamin Arcton-Tettey
info@businessghana.com
