The Professional and Managerial Staff Union (PMSU) of Agricultural Development Bank PLC (ADB) has expressed concerns over the proposed share disposals involving the bank. The union warned that decisions threatening jobs or weakening its agricultural development mandate could undermine a key national institution.
Chairman of PMSU, Mr. James Obeng-Gyan, called on the government, the Bank of Ghana, ADB’s Board and management to prioritise recapitalisation, sound corporate governance and institutional recovery. He stressed that the future of the bank must be considered beyond immediate commercial interests to include its contribution to agriculture, agribusiness, rural communities and the national economy.
Mr. Obeng-Gyan said reports concerning the proposed divestiture of the Bank of Ghana’s remaining 13.45 per cent shareholding in ADB, alongside indications of a possible disposal of the government’s reported 83.52 per cent interest, required careful public scrutiny. The union demanded transparency, independent valuation and clear safeguards for the national interest.
The PMSU chairman urged the government to consider adequate recapitalisation as a sustainable alternative to ownership changes that might compromise ADB’s development mandate. He said the bank needed stronger risk management, improved loan recovery, digital transformation, operational efficiency and effective corporate governance to strengthen its financial position and support farmers and agribusinesses.
Mr. Obeng-Gyan also expressed concern about the possible impact of the Bank of Ghana’s Prompt Corrective Action measures and proposed staff rationalisation. He insisted that any restructuring must be lawful, transparent and undertaken in consultation with organised labour, warning against making employees bear the consequences of historical institutional challenges.
Local Union Chairman, Mr. Francis Xavier Kongkuah, urged management to promote industrial harmony, protect staff welfare and ensure fairness and transparency in the ongoing Staff Talent Optimisation exercise. He called for the resolution of outstanding grievances and delayed performance appraisal outcomes, saying prolonged delays undermined staff morale and confidence.
Mr. Obeng-Gyan called for stronger labour-management relations and welcomed plans for a two-day workshop to improve engagement. He said, “We do not defend jobs at the expense of institutional survival; we defend the institution because its survival guarantees sustainable jobs,” and urged government, regulators, management as well as organised labour to work together towards a financially sustainable ADB.
Key points
- The Professional and Managerial Staff Union (PMSU) of Agricultural Development Bank PLC (ADB) has raised concerns about proposed share disposals.
- The union demands transparency, independent valuation and clear safeguards for the national interest in any ownership changes.
- The PMSU chairman urged the government to consider adequate recapitalisation as a sustainable alternative to ownership changes.
