Some interested parties opposed to TTB’s take over by ECOBANK are seeking presidential intervention to halt the deal. They include some contractors, businesses and interest groups.
They are arguing that the takeover if allowed to go through will see SSNIT’s holding and influence in the new ECOBANK/TTB reduce drastically and also reduce the Trust’s returns. This, they believe will also have negative implications for pensioners and Ghanaian workers.
The parties are therefore rather proposing a mechanism that will allow TTB to merge with other local banks to maintain Ghanaian ownership or a buy-out of SSNIT’s interest in The Trust bank. These concerns were contained in a letter sent to President Mills copied to Parliament, Finance minister and leaders of all the political parties.
The organized group insists the long standing support extended by TTB to small businesses will collapse if the deal is sealed because ECOBANK cannot sustain it.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
Latest Stories
-
I want to focus more on my education – Chidimma Adetshina quits pageantry
54 mins -
Priest replaced after Sabrina Carpenter shoots music video in his church
1 hour -
Duct-taped banana artwork sells for $6.2m in NYC
1 hour -
Arrest warrants issued for Netanyahu, Gallant and Hamas commander over alleged war crimes
1 hour -
Actors Jonathan Majors and Meagan Good are engaged
1 hour -
Expired rice saga: A ‘best before date’ can be extended – Food and Agriculture Engineer
2 hours -
Why I rejected Range Rover gift from a man – Tiwa Savage
2 hours -
KNUST Engineering College honours Telecel Ghana CEO at Alumni Excellence Awards
2 hours -
Postecoglou backs Bentancur appeal after ‘mistake’
2 hours -
#Manifesto debate: NDC to enact and pass National Climate Law – Prof Klutse
2 hours -
‘Everything a manager could wish for’ – Guardiola signs new deal
3 hours -
TEWU suspends strike after NLC directive, urges swift resolution of grievances
3 hours -
Netflix debuts Grain Media’s explosive film
3 hours -
‘Expired’ rice scandal: FDA is complicit; top officials must be fired – Ablakwa
4 hours -
#TheManifestoDebate: We’ll provide potable water, expand water distribution network – NDC
4 hours