The workers pose for a memorable picture
The Professional and Managerial Staff Union (PMSU) of Agricultural Development Bank PLC (ADB) has raised concerns about the proposed share disposals involving the bank.
The union warned that decisions that threaten jobs or weaken its agricultural development mandate could undermine a key national institution.
Chairman of PMSU, Mr. James Obeng-Gyan, has therefore called on the government, the Bank of Ghana, ADB’s Board and management to prioritise recapitalisation, sound corporate governance and institutional recovery to protect the bank and its workforce from further uncertainty.
Speaking at the National Executive Council meeting of PMSU/Local Union on the theme, “Safeguarding ADB’s Institutional Sustainability and Jobs in the Fulfilment of Its National Development Mandate,” he said 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.
He stressed that the union was not opposed to strategic transactions but demanded transparency, independent valuation and clear safeguards for the national interest.
He 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.
The PMSU chairman 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 without examining the decisions that contributed to them.
“Let us strengthen the foundations of ADB rather than make its employees the convenient casualties of historical managerial failures,” he appealed, adding that management should address outstanding concerns over promotions, salary structure implementation, pensioners’ medical care, performance targets and the employment conditions of long-serving outsourced and contract workers.
Mr. Obeng-Gyan called for stronger labour-management relations and welcomed plans for a two-day workshop to improve engagement.
Local Union Chairman, Mr. Francis Xavier Kongkuah, also 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.
“We do not defend jobs at the expense of institutional survival; we defend the institution because its survival guarantees sustainable jobs,” Mr. Obeng-Gyan said, and urged government, regulators, management as well as organised labour to work together towards a financially sustainable ADB capable of protecting livelihoods and fulfilling its national development mandate.