The National Democratic Congress (NDC), Member of Parliament for North Tongu, Okudzeto Ablakwa, has expressed his disappointment again over what he called “this is another matter I find quite unsettling for government to keep looking for Costly and Complicated Policy Options.”
According to Hon. Okudzeto Ablakwa, the government has pushed huge sums of money to start a new bank whiles his administration is struggling to raise money for other initiatives such as the YouthStart program that they have already started.
He noted that the Nana Akufo-Addo administration should have push that money onto other projects they have begun but struggling to fund them. According to him, it is “another matter I find quite unsettling in finance Minister Ken Ofori-Atta covid-19 expenditure statement presented to Parliament is the colossal 853 million Ghana cedi transferred as seed money to establish the new development bank Ghana. This transfer is more than the total 763. 92 million Ghana cedis released so far by government for its flagship agenda 111 hospitals.”
He also believe the government could have used the for the new bank to create a portfolio in the already established banks to help the youth instead of establishing a new bank.
His statement said “Considering the massive financial obligations in establishing a new bank meeting the minimum capital requirement of 400 million Ghana cedis. Won’t it have been more prudent to use the 853 million Ghana cedis to create dedicated portfolio in any of the already established banks to support startups of young Ghanaian entrepreneurs? he quizzed.
“With governments struggling to operationalise the much-touted YouthStart initiative after missing its original much 2022 commencement date; one wonders why Akufo-Addo’s governme when there are more simple practical and you friendly interventions which will bring quick relief to the many suffering Ghanaians.”
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