Members of the Defunct Banks and Other Financial Institutions Network (DEBOFIN) have thrown their support behind the bid of former President John Dramani Mahama to lead the National Democratic Congress (NDC) in the 2024 general elections as flagbearer.
They believe that if Ghanaians had renewed John Dramani Mahama’s mandate in 2016, a
management of the banking sector clean-up under his leadership would have been better
carried out to save lives and jobs, secured people’s investments and businesses whilst at the same time increasing business confidence.
Mr Mahama on Thursday, March 2 in Ho, Volta Region launched his campaign to be NDC’s flagbearer.
He said that at the top of the NDC priorities as it seeks to form the new government in 2025, is to restore stability and inclusive growth to the economy.
“We will strictly enforce prudence and responsibility in the management of public finances by cutting out waste and ostentation, which have become commonplace under this administration. Together, we will build the Ghana we want. We shall restore faith in our almost collapsed financial system and embark on sweeping reforms at the Bank of Ghana.
“We shall actively pursue policies to ensure robust local participation in our banking, financial, telecommunications, mining, agriculture, agribusiness and manufacturing sectors. This will be anchored on our plan to grow the economy and create sustainable employment for our youth,” Mr Mahama said.
In a statement reacting to his campaign launch, Executive Secretary for DEBOFIN Thomas Ayisi Kumah said “The entire membership of DEBOFIN welcome with great joy and relief, the decision of the former president John Dramani Mahama to contest for the flag bearership of the National Democratic Congress and eventually the 2024 presidential elections. We acknowledge his extensive leadership, experience and in-depth knowledge espoused from the regulation of the microfinance subsector in 2012 to the challenges in the banking sector, beginning with the passage of the depositors’ protection ACT 2016. ‘Building the Ghana we want’, is to build strong institutions including, building strong indigenous Ghanaian Banks and non-banks to be able to support the private sector for growth.
“It’s not about creating an economy that favours only foreign investments and businesses,
neither is it only about building a financial service sector to satisfy the business interest of a few Ghanaians holding political power.
“We believe that had Ghanaians renewed John Dramani Mahama’s mandate in 2016, management of the banking sector clean up under his leadership would have been better carried out to save lives and jobs, secured peoples investments and businesses whilst at the same time increased business confidence.
“We however, on the contrary, express much regret on the part of the former finance minister, Dr. Kwabena Duffuor – a victim of the bank closures for his extreme muteness and restraint in criticizing the current government for the mismanagement of the sector and the economy at large.
“Indeed, Ghana at this time needs ‘experience but not experiment’. We therefore call on
delegates of the National Democratic Congress to give the former president, John
Dramani Mahama a resounding victory in their upcoming presidential primaries to enable him rescue this country from the corrupt and incompetent NPP government to build the Ghana we want together.”
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