Financial sector cleanup was a tough decision – Ofori-Atta

Finance Minister, Ken Ofori-Atta, has said recent cleanup of the financial sector was a tough decision taken by government in the interest of the nation.

Recently, Bank of Ghana revoked the licenses of nine universal banks, 347 micro-finance companies, 39 microcredit companies or money lenders, 15 savings and loans companies, eight finance house companies, and two non-bank financial institutions.

According to the Finance Minister, much as it has been a difficult situation for all involved – investors, officials on governance side and those responsible for regulations, people entrusted with the management of resources of others must provide good stewardship.

Addressing the 56th Annual Session of the Ghana Baptist Convention at Ejura in the Ashanti Region, Mr Ofori-Atta said investors also have a responsibility to consider the moral implications of their investment decisions.

“Let us, together, act as each other’s keeper – scrutinizing the activities of the institutions we are considering investing or banking with, interrogating any suspiciously high returns and checking with regulators when we are unsure of the operations of an institution,” he admonished.

He called for prayers for President Akufo-Addo and his government as well as other leaders of the country. “Prayer for government, do not murmur. Instead, pray and declare righteousness in this nation irrespective of how tough things are,” the Finance Minister implored.

He indicated that the positive confessions of believers are critical in ensuring that God comes through for Ghana, asserting that murmuring and faith are diametrically opposed to each other.

“Many of the people of Israel, due to their murmuring, got destroyed and did not realize their divine destiny. They did not see Canaan,” he biblically explained.

Mr Ofori-Atta said believers are expected to be courageous and bold in supporting President Akufo-Addo after he had espoused the vision of a Ghana beyond aid and committed to building a national cathedral.

“These sacrifices are part of the seed that will bring divine blessings to this nation. Let us join hearts, hands and heads to support our President’s vision,” he charged.

He added: When you are tempted to comment on issues on which you have no verified facts remember to replace that temptation with prayer in line with the Baptist Identity of Bible-Centeredness.

The Finance Minister stated this in reference to the theme: “Pentecostal/Charismatic Christianity and the future Baptist Identity”.

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