Veep Jabs John Mahama

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Vice President Dr. Mahamudu Bawumia has lashed out at former President John Dramani Mahama for failing to take the bull by the horn to prevent the collapse of the Banks and financial institutions in the country.

Speaking on the side of a Sod Cutting Ceremony in Amasaman for the construction of the United Nations Office for Project Services (UNOPS) $5 billion initiative to build 100,000 affordable homes in Ghana, Dr. Bawumia responded to claims by the former president that the current government was on a collapsing spree of collapsing Banks and Financial Institutions, without considering the number of jobs that would be lost.

Vice President Bawumia also pointed out that contrary to the claim that the current government was responsible for crises, government would like to see the survival and growth of indigenous banks, but would not have financial institutions that threaten the stability of the entire financial system whether they are indigenous or foreign.

“We would rather have a few well-capitalized, liquid and sound banks than many weak, undercapitalized and illiquid banks that cannot effectively function as banks”, he said.  

“The Bank of Ghana under its current leadership has shown courage by taking the “bulls by the horns” and dealing decisively with the problems created under the Government of John Mahama, to avert the collapse of the entire financial system”, he added.  

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