Accra, Ghana, June 23, 2020//-Ghana’s based Alliance for Social Equity and Public Accountability (ASEPA) today revealed that 42,850 Ghanaians have lost their jobs to the country’s financial sector cleanup embarked upon by the Bank of Ghana (BoG) in 2017.
The Executive Director of ASEPA, Mensah Thompson who disclosed this at the press conference in Accra, blamed the government and the Governor of BoG, Dr Ernest Addison for undertaken the unpopular cleanup exercise which lasted for 20 months.
Breakdown
Giving the breakdown, out of the 42,850 lost figures, 4,500 direct and 2,000 indirect jobs were lost from the revocation of 16 bank licenses.
He added that 4,000 direct and 3,800 indirect jobs were lost due to the collapse of 23 Savings and Loan companies in the country.
Mr Thompson further disclosed that 17,350 direct and 10,000 indirect jobs were also lost from the collapse of 386 Microfinance Institutions (MFIs) in Ghana.
While 1,000 direct and 500 indirect jobs had been lost due to the collapse of 53 Funds Managers operating in the West African country.
Social Impact of Cleanup
Touching on the social impact of the cleanup on the lives and their dependents, Mr Thompson said 18,000 workers of the affected cleanup exercise had died.
6,500 orphans are currently struggling to fend for themselves due to the death of some of the affected workers in the unbridled cleanup exercise sanctioned by the Akufo-Addo led government.
Mr Thompson told the journalists at the well attended press conference which was telecast live by number of television channels in the country that the cleanup led to the creation of unprecedented 16,300 broken homes in the country.
He was quick to add that 9,000 of the affected workers were currently homeless, whereas 250,000 of them were also lost their livelihoods. Some of them numbering 100,000 were having problems with their health, according to Mr Thompson.
As if these challenges are not enough, 78,000 of the affected workers are not able to pay some school fees for their children and other dependents.
African Eye Report
