Monday 2nd September, 2019
Accra, Sept. 2, GNA – The Ghana Union of
Traders Associations (GUTA) has lauded the Government for its effort to
sanitise the banking and financial sectors.
A statement signed by Mr Alpha Shaban, the
General Secretary, GUTA, and copied to the Ghana News Agency, said it was
worthy to state that prior to the exercise most traders had complained about
their inability to withdraw their savings from some banks and non-bank
financial institutions.
“One clear example is that of a member
of GUTA, who had received cash payment of one hundred thousand Ghana cedis from
his customer in the evening of a Friday,” it said.
“As he did not want to risk locking the
money in his store, he decided to deposit it in his savings and loans account,
so as to cash it for business the following Monday, but has not been able to
withdraw the money to date. This savings and loan company is now defunct.”
The statement said this was a clear picture
of what had been going on in some of those financial institutions.
“It is against this background that
GUTA heaved a heavy sigh of relief when the Government boldly came out to
rescue innocent victims from this awful situation.”Â
“However, we would like to entreat the
Government to put in place effective measures to forestall its
recurrence.”
It said while doing so care must also be
taken not to suppress the trade in money adding that government should closely
monitor, evaluate and revamp the remaining good ones to rekindle confidence in
the banks.
GNA
