ADB staff union demands safeguards amid potential stake sale

The Professional and Managerial Staff Union (PMSU) of Agricultural Development Bank PLC (ADB) has called for transparency and job protections following reports that the Bank of Ghana and the government may sell their combined 96.97% stake in the lender.

PMSU Chairman James Obeng-Gyan stated that while the union does not oppose strategic transactions in principle, any disposal must include an independent valuation of assets and clear protections for the national interest. The union expressed concern that ownership changes could undermine the bank’s mandate to support agriculture, agribusiness, and rural communities.

As an alternative to selling ownership, the union urged the government and the Bank of Ghana to prioritize adequate recapitalization, stronger governance, and improved risk management. Obeng-Gyan also called for improved loan recovery and digital transformation to ensure institutional recovery, warning that employees should not become casualties of historical managerial failures.