Ghanaian businessman, Dr Kofi Amoah has joined calls for the Minister of Finance, Ken Ofori-Atta to be sacked following the economic challenges facing Ghana and the subsequent decision to go to the International Monetary Fund (IMF) for support.
In a tweet Wednesday (July 6, 2022), Dr Amoah accused the Finance Minister of “killing” several Ghanaian indigenous banks when he could have saved them using nationalistic considerations.
According to him, capital adequacy ratio (CAR) – a measure of how much capital a bank has available, reported as a percentage of a bank’s risk-weighted credit exposures – is at its lowest in the country because of decisions taken by Mr Ofori-Atta as Finance Minister.
The Fin Mnster killed several ‘native’ banks, built over many years by CITIZENS
He cld’ve used nationalistic considerations n saved these banks
Capital Adequacy ratio of Gh under his watch is the worst in Africa; he killed ‘native’ banks using this ratio of the banks
Fire him!
— CitizenKofi (@amoah_citizen) July 6, 2022
He tweeted: “The Fin Mnster killed several ‘native’ banks, built over many years by CITIZENS. He cld’ve used nationalistic considerations n saved these banks. Capital Adequacy ratio of Gh under his watch is the worst in Africa; he killed ‘native’ banks using this ratio of the banks. Fire him!”.
Dr Kofi Amoah was a majority shareholder of the now-defunct Global Access Savings and Loans which was one of the 23 savings and loans companies whose licences were revoked in 2019 by the Bank of Ghana citing insolvency, management, and fraud in some cases.
Source: Graphic Online