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.
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