Banking Sector: GUTA Cautions Government Not To Create Panic For Local Investors


The president of the Ghana Union of Traders Associations (GUTA), Dr Joseph Obeng, has cautioned the government not to create panics for local investors to lose hope in the banking sector.

According to the president, individuals invested to help their businesses and they wholly depended on it for the progress of their business.

”Why do we make investments? I take my money to the bank if my business is going well, and expect to access it the day my business goes bad, that’s what we call investment”,….. Dr Obeng stressed on the Hot Morning Ride

Also, In an interview on the Hot morning drive aired on Hot 93.9 FM, the GUTA’s president expressed the institution’s dissatisfaction with the government to spread their bonds locally after investing so many years. 

He further commented how individuals kept cash under their pillows for lack of trust they have in the banks. Dr Obeng again stressed the panic that this withdrawal in the system will collapse banks and businesses.

In conclusion, Dr Obeng called on the government to relook at government key policies that drain money from its confers.

Ghana Union of Traders Association (GUTA) is the umbrella body that regulates the activities of trade in Ghana. The body also lobbies the Government of Ghana on issues that affect traders in the country.

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