Business News of 2014-01-13

‘Organised labour has no right to challenge Merbank sale’

Labour expert Senyo Agyabeng says the organized labour does not have the moral justification to go to court over the sale of Merchant bank to Fortiz Equity Fund.

Organized labour has taken the decision because of what it described as unsatisfactory answers from SSNIT and the Bank of Ghana over the transaction.

But Senyo Agyabeng speaking to XYZ News in an interview said the presence of two representatives from organized labour raises serious issues about the move.

According to him, the organized labour being led by the Trades Union Congress must tread cautiously.

“With the information available, I don’t see the rationale or the moral authority that the TUC or organized labour will have to be taking this to court”.

“Organised labour was on that board…I mean it is strange for me to now hear that organized labour has a problem with the sale, then question is what were the people doing on the board”.