The bank is scheduled to offload a little over 100 million shares \u00a0representing 75 percent ownership of the bank to raise about GH\u00a2300 million.<\/p>\n
The workers are however kicking against the IPO and are demanding a detailed audit into the books of the bank before taking the bank public.<\/p>\n
The workers are also demanding the dissolution of the adb board of governors<\/strong> <\/span><\/a>as well as the dismissal of the bank\u2019s Managing Director<\/strong> <\/span><\/a>over alleged misappropriation of funds and gross mismanagement.<\/p>\n President John Mahama on May Day announced that he has directed Haruna Iddrisu to resolve the impasse<\/a><\/strong><\/span> between the adb workers and management.<\/p>\n In an interview on Citi Prime News,<\/strong> the sector Minister revealed that on Monday, he had a meeting with the management of the bank and also met the union of adb on Tuesday.<\/p>\n He added that there will later be a joint meeting \u201cwhere both management and union together with government would reached a settlement of a sort on this matter and we can convey same to the public via the media.\u201d<\/p>\n Mr. Iddrisu stressed that government is giving the issue all the attention it deserves to help find an \u201camicable resolution to the storm and we need to restore sanity and normalcy in the operations of adb and to safeguard its corporate reputation while they deal with some of the concerns that the union have raised.\u201d<\/p>\n He continued saying, \u201cwe want the restoration of full operation and we want both parties to work together\u2026while we look into the matters that will need our further examination.\u201d<\/p>\n Regarding the demand by the workers for government to look into the books of the bank before the IPO, the Employment Minister said: \u201cCertainly, there is a government policy decision on the initial public order, there is a government decision on the sale of adb house but I\u2019m unable to convey that to the public now until I get the bye-in of both management and the union which is part of the basis of our engagement.\u201d<\/p>\n UNICOF threatens demonstration\u00a0<\/strong><\/p>\n The Union of Industry, Commerce and Finance Workers (UNICOF) is threatening a nationwide demonstration if the impasse over the sale of the Agriculture Development Bank (adb) is not resolved immediately.<\/p>\n UNICOF says the impasse is affecting productivity at the bank, and pointed out that failure to resolve it will be a recipe for chaos which they insist must not happen.<\/p>\n General Secretary of UNICOF, John Esiape said the Union will mount series of pressure on management to resolve the matter.<\/p>\n “The demonstration and the possible strike will depend on the responses that we get. Mind you, this is a struggle. We are up against very powerful forces and therefore, we would have to measure our approach.”<\/p>\n <\/p>\n <\/p>\n By: Efua Idan Osam\/citifmonline.com\/Ghana![\"adb](\"http:\/\/4cd.e16.myftpupload.com\/wp-content\/uploads\/2015\/05\/17144378808_baf867af1c_z.jpg\")
<\/a><\/p>\n
\nFollow @osamidan<\/a>
\n