19,000 Mineworkers demand GH¢380m locked-up funds release

The Ghana Mineworkers’ Union (GMWU) of the Trades Union Congress (TUC-Ghana) has petitioned the Bank of Ghana (BoG) over the continued inability of some distressed Specialised Deposit-Taking Institutions (SDIs), including The Seed Funds Savings & Loans Limited (TSF) and Jislah Financial Services Limited, to release funds belonging to the workers.

The union is, therefore, demanding the immediate resolution of the outstanding financial sector legacy issues and a full refund of the locked-up funds, as well as an urgent meeting with the Governor of the BoG and the Minister of Finance to agree on a definite solution.

The union referred to several public statements on the unresolved financial sector clean-up, including a July 25, 2022, MPC press briefing, during which the then Governor said discussions would be held with the IMF to address remaining distressed institutions, with the outstanding amount estimated at between GH¢7 billion and GH¢8 billion.