<<Print>>

The Ghana Federation of Labour (GFL) says it is conducting its own investigations into the sale of Merchant Bank to Fortiz since its members are contributors to the Social Security and National Insurance Trust (SSNIT). SSNIT, a majority shareholder of Merchant Bank has come under heavy criticism for the sale of Merchant Bank to Fortiz Equity Fund. According to the GFL, it is imperative that the deal is investigated because the Trades Union Congress (TUC) has representation on the board of SSNIT and since most Ghanaian workers are contributors to SSNIT, they are entitled to know the truth behind the sale. In an interview on Eyewitness News, the Chairman of the Federation, Abraham Koomson said the sale has �taken us [GFL] by surprise and we have to also consult.� He mentioned that since the issue is before the law courts, �and if we want to do anything about it, we need to tread cautiously because the TUC itself has served on the SSNIT board, they have represented workers all these years, they have been involved in discussions and I don�t know what position they took when it came to discussing the sale of Merchant Bank and we are yet to know.� Mr. Koomson continued saying, �all our members are contributing to the SSNIT Fund and I don�t know the consultations that they [TUC] had to agree on the sale. We don�t know, we are yet to know.� He recalled that during the upward adjustment of tariff by the Public Utilities and Regulatory Commission (PURC), the TUC which served on the board of the Commission agreed to the prices but �they came back and wanted workers to go on strike then this one too, you�ve gone there to agree to the sale the you will come back to us. We are not fire fighters.�