Managing Editor of the Insight Newspaper, Mr. Kwesi Pratt Jnr. has taken a swipe at owners of financial institutions in the country, particularly banks, accusing them of grossly mismanaging their businesses.
According to him, the calibre of people appointed to manage the banks are not apt, appropriate and qualified as most people appointed to the boards are always those who have no knowledge and expertise in the banking sector.
He said most owners of the bank abuse banking regulations in the country by entrusting their businesses in the hands and care of incompetent people, mostly relatives and close family members or friends.
Mr. Pratt who was speaking on Accra based Peace Fm and monitored by BestNewsGH.com noted that he can be a better board member or manager of a bank, than most of the people that are paraded around as board members, Managing Directors and Chief Executive officers.
According to him, because of the laxed posture of the Bank of Ghana with regards to performing due diligence on who qualifies to be appointed as a board member and who qualifies to be a managing director or Chief Executive officer, most owners take advantage by placing the wives, children and even girlfriends in very important and sensitive positions at the banks.
He opined that an important area like the banking deserves better and must be treated with seriousness, adding that the Bank of Ghana which is the regulator of the sector must draw lessons from the crisis that has led to the collapse of several indigenous.
In his estimation, the banking sector crisis must not be taking lightly as it has the tendency of negatively impacting several facets of the national economy.
Source: BestNewsGH.com
