Local content development in the banking sector should interest the Bank of Ghana (BoG), as the regulator of the banking sector, to take active role in it, the Member of Parliament for Pru East, Dr Kwabena Donkor, has said.
He said the current rate of foreign involvement in the sector, although welcome for the fact that there was now capital injection into the sector, had the tendency of relegating Ghanaians to the background if the regulator did not insist on local content.
Speaking to the Daily Graphic, Dr Donkor, who is a former Deputy Minister of Energy, explained that local content involved the use of Ghanaian human capital, the use of Ghanaian goods and services and the use of Ghanaian inter-mediation in the banking process.
He said for instance that the current example where after 10 years of operation in Ghana, the SG/SSB was still having five expatriate staff at the top of its management was unacceptable.
�The BoG should crack the whip to ensure that the expansion in the banking sector benefited both parties in employment generation and capacity building.
�I see no reason why after 10 years of operation in Ghana, such expatriate banks cannot train Ghanaians to take over�, he said, adding that Ghana deserved better treatment and that could be achieved if proper regulations were put in place by the BoG.
He expressed the hope that the BoG would act with dispatch to ensure that expatriate banks worked towards ensuring that Ghanaians took over the operations of their banks in the near future.
<<Print>>