Appiah-Danquah blames Akufo-Addo’s policies for collapse of Capital Bank [Video]

Legal expert Andrew Appiah-Danquah has highlighted how the then former President John Dramani Mahama took strategic steps to strengthen now-defunct Capital Bank, while the immediate past President Nana Akufo-Addo’s administration pursued policies that ultimately led to its collapse.

According to Appiah-Danquah, Mahama’s government approved a GH¢620 million commercial loan to Capital Bank secured by a GH¢380 million prudential fund injection.

In an analysis sighted by GhanaWeb Business, Appiah-Danquah mentioned that this move was part of a broader strategy to stabilize indigenous financial institutions rather than dismantling them.

Additionally, he pointed out that a structured repayment plan was introduced, allowing the bank to make monthly payments of GH¢14 million over two years – an approach that enabled Capital Bank to repay over GH¢336 million before the change in government.

“However, when Akufo-Addo assumed office in 2017, his administration abandoned this structured recovery approach. Instead, finance minister Ken Ofori-Atta and BoG Governor Dr. Ernest Addison demanded immediate repayment of the entire …

Tags Canada News, Canada News Today, Indigenous Peoples Day, Indigenous Pride, Indigenous Small Business