The Ghana Armed Forces has hinted that by the end of 2017 it will commence operations of its own Bank. According to the Chief of Defence Staff Lieutenant General Obed Akwa “plans are far advance for the realization of the Ghana Armed Forces Bank”.
The process which began some few years back stalled because of lack of clarity on the management structure of the Bank but “we have done due diligence in the last eight months and we are convinced that we have done the right thing” He said.
As the majority shareholder with 70% shares in the Provident Fund, the Ghana Armed Forces is now using the Provident Fund as their seed capital for the soon to come Ghana Armed Forces Bank. Which he said full report on the proposal will be submitted to the Armed Forces Council in their next meeting.
Chief of Defence Staff Lieutenant General O.B Akwa who disclosed this was speaking to the Ghana Armed Forces in Takoradi when the Defence Minister Dominic Nitiwul paid a two day working visit to the 2 Garrison Unit.
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By: Nana Kojo Ennimil Arthur/Beachfmonline.com/Ghana
