ADB union raises alarm over job risks, demands safeguards in proposed share sale

The Professional and Managerial Staff Union (PMSU) of Agricultural Development Bank PLC (ADB) has called for safeguards against job losses, raising concerns over proposed share disposals involving the bank.

The union says any ownership changes must protect employees and preserve ADB’s mandate to support agriculture, agribusiness and rural communities.

Speaking at the union’s National Executive Council meeting, PMSU Chairman James Obeng-Gyan urged the government, the Bank of Ghana, ADB’s Board and management to prioritise recapitalisation, stronger governance and institutional recovery.

The meeting was held on the theme, “Safeguarding ADB’s Institutional Sustainability and Jobs in the Fulfilment of Its National Development Mandate.”

Mr Obeng-Gyan said reports of a proposed sale of the Bank of Ghana’s remaining 13.45% shareholding, alongside indications of a possible disposal of the government’s reported 83.52% interest, required careful public scrutiny.

He said the union did not oppose strategic transactions. However, it wanted transparency, independent valuation and clear protections for the national interest.

He urged the government to consider adequate recapitalisation as an alternative to ownership changes that could compromise the bank’s development mandate.

According to him, ADB’s recovery also requires stronger risk management, improved loan recovery, digital transformation and greater operational efficiency.

Mr Obeng-Gyan raised concerns about the potential impact of the Bank of Ghana’s Prompt Corrective Action measures and proposed staff rationalisation.

He said any restructuring must be lawful, transparent and carried out in consultation with organised labour. He argued that employees should not bear the consequences of longstanding institutional problems without scrutiny of the decisions behind them.

“Let us strengthen the foundations of ADB rather than make its employees the convenient casualties of historical managerial failures,” he said.

The PMSU chairman also called for action on outstanding staff concerns. These include promotions, implementation of the salary structure, pensioners’ medical care, performance targets and conditions for long-serving outsourced and contract workers.

He welcomed plans for a two-day workshop to strengthen labour-management engagement.

Local Union Chairman Francis Xavier Kongkuah also urged management to protect staff welfare and ensure fairness and transparency in the ongoing Staff Talent Optimisation exercise.

He called for the resolution of outstanding grievances and delayed performance appraisal outcomes, saying prolonged delays weakened staff morale and confidence.

Mr Obeng-Gyan said protecting employees and securing the bank’s future were complementary goals.

“We do not defend jobs at the expense of institutional survival; we defend the institution because its survival guarantees sustainable jobs,” he said.

He urged the government, regulators, management and organised labour to work together to build a financially sustainable ADB that protects livelihoods and fulfils its national development mandate.