Entrepreneur and political activist Bernard Oduro Takyi has kicked against a directive of the National Insurance Commission (NIC) to collapse some insurance companies in Ghana that do not meet its recapitalisation threshold of 50 million cedis.
The NIC has given the local insurance companies up to early February to meet the directive else lose their licenses.
But B.O.T, a member of the Chartered Insurance Institute of UK, agrees that the recapitalization is good but is being done at the wrong time especially as businesses are struggling to revive following the COVID-19 pandemic.
Speaking on Dwaboase on TV XYZ, Oduro Takyi observed that COVID-19 has had a negative impact on businesses across the world which the government keeps reiterating as a defense to why the country’s economy is not doing well in recent times.
Watch B.O.T ague on the matter in the video below.