Dr. Henry Kwabena Kokofu, a former member of parliament for Bantama, has advised Ghanaians to disregard the promises made by former President John Mahama.
On the Badwam Show on Adom TV, he stated that Mr. Mahama's promise to reinstate licenses that were unjustly revoked is merely political rhetoric.
"It is true that there is a global economic crisis, and according to reports, things will shortly improve. Mahama is conveying a signal that he intends to retreat the nation.
"I was in parliament in 2015 when then-President Mahama spoke about a banking crisis and blamed the Bank of Ghana," the author writes. Smaller institutions were struggling at the time, and he acknowledged there is a financial crisis. What was he able to accomplish during his nearly two-year tenure as president?" he inquired.
The executive director of the Environmental Protection Agency stated that in these times of economic crisis, Ghana requires solutions from Mahama rather than promises.
"The nation stands at a juncture. It focuses on solutions rather than making promises. We require pragmatic solutions," he stated.
The former president of Ghana, John Dramani Mahama, has pledged to reinstate the licenses of defunct financial institutions as part of a banking sector cleansing effort.
In his acceptance speech following his recent victory in the NDC presidential and parliamentary primaries, he stated that the licenses that had been unjustly revoked will be reinstated.
Under the direction of the Finance Minister, Ken Ofori-Atta, the government implemented a banking sector cleanup in 2017.
The number of banks was reduced from 34 to 23, and the licenses of 347 microfinance institutions, 15 savings and loans, and eight finance houses were revoked.
Several of the institutions whose licenses were revoked exhibited varying degrees of corporate governance deficiencies.