*Banking Clean Up: I Support The Government Decision- Sarfo Gyamfi Disclosed.*

*Banking Clean Up: I Support The Government Decision- Sarfo Gyamfi Disclosed.*

The managing director of Asomdwie co-operative credit union who double as national organizer for co-operative credit unions in Ghana Mr James Sarfo Gyamfi has expressed that the recent banking clean up hitting some of the banks in Ghana is the right and accurate decision the government has taking.

He noted that it got to a time, some of the recent collapsed banks fall into financial crisis and the then government supported them with huge amount of money called bailout for them to be strong in service but they were not able to manage it but rather spent it anyhow which has resulted what Ghanaians are witnessing of late.

He said every country economy relied on it strong banking system because before any country will attract foreign investors strong banking system play major roles

Mr Gyamfi explained that, Ghana is going to witness great and massive employment, developmental projects and infrastructures after these recent banking clean up and it’s a right and bold decision the government has taken for revoking the license of some of banks which are not functioning effectively.

He said this should have been done long time because some of the banks are weak in service and does not qualify to run in the country.

“We the co-operative credit unions in Ghana are in much support of the government for taking this step and we believe that Ghana is going to be developed since the bad nuts have been removed from the good ones”, he expressed.

He bear teeth on those who took loans from bank and refused to pay, he says some of the collapsed banks was cause by failure of loans payment and poor managerial skills.

He urged Ghanaians to pay every loans they took from bank on time so since the money doesn’t belong to the bank but rather all the customers.

Mr James Gyamfi, the manager for Asomdwie co-operative credit union again recommended the savings in credit Unions for Ghanaians since they are reliable and strong in their services.

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