Banking consultant, Dr Richmond Atuahene has said Ghana does not need a Minerals Development Bank to increase gold reserves.
According to him, Ghana does not have the expertise in managing the banking sector, the reason foreigners thrive and make more profits than local banks.
The Banking Consultant has asserted the proposed bank may not augur well for the country and deepen its woes in illegal mining, causing further destruction to the environment.
“It seems now everybody is talking about banking. We’ve heard someone talk about the Women’s Bank and a few months ago Alan also spoke about the Traders Bank. I don’t really know what is in it to have boosted interest. But I think we all see it is a soft spot and people will listen to you.
“Also, the worrying situation with Mineral Banking will be galamsey. Environmental degradation, poisoning and destroying the land will continue to be our biggest bane and if we don’t take care and continue to destroy our environment, in a fear years to come, Ghana will be a cancerous state,” he said.
Dr Atuahene made these comments on Adom FM Dwaso Nsem, in reaction to a promise by the New Patriotic Party (NPP) flagbearer, Dr Mahamudu Bawumia.
Dr Bawumia has said the move is aimed at providing finances for mining projects in the country.
However, Dr Atuahene has said the country should be interested in strengthening existing institutions instead of promises to set up new ones.
“Nobody is saying Mineral Bank is not good but we must ask ourselves what we have done to the environment.
“Ofori-Atta set up the development bank and we should focus on strengthening and improving that. We can create a specialised unit that will be in charge and monitor the people involved in legal mining and even review the percentage shares,” he suggested.
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