Finance Minister, Dr Kwabena Duffour has suspended Ecobank’s takeover of The Trust Bank. Joy Business has learnt the suspension is to give the minister an opportunity to engage all the interested parties following concerns raised about the takeover.
Some analysts are however questioning the move. Joy Business’ George Wiafe reported that a letter signed by the Director of Legal Services at the Finance Ministry directs all the interested parties to defer on-going discussions for now so the minister can engage all parties, for and against.
Some analysts however argue the minister does not have the power to stop the process and that it is the Governor of the Bank of Ghana who could issue such a directive.
There are others who believe it is well within the Minister’s right as head of the government institution that is responsible for SSNIT which holds majority shares in TTB in trust for Ghanaians.
