Why go for €170m loan to build another bank when there's ADB? - Social media users ask

Social media has been set ablaze once again after news broke that government has secured a loan of €170 million loan to build a new national bank, Development Bank Ghana (DBG).

The new bank, according to the Finance Minister, Ken Ofori-Atta is an integral feature of the GH¢100 billion Ghana Cares ‘Obaatampa’ Project.

Reacting to this, some Ghanaians have wondered why the government can not pump money into the existing Agricultural Development Bank (ADB) to make it resilient and competitive in the banking sector.

Pouring out their thoughts on micro-blogging site, Twitter, some users accused government of being insensitive to the plights of Ghanaians, adding that, they are only interested in their selfish gains.

They furthered that posterity will judge them for collapsing some local banks and financial institutions but going ahead to take a loan to build a new bank.

One of the tweeps said, "We have NIB, ADB still you go for loan of €170m to build another bank. Till when will these leaders think about the entire nation rather than their families and parties..? What will Development Bank Ghana do that ADB & NIB can’t do.3da bibini begyae gyimi no mebo s3 papa."

"You spent so much money to clean the financial sector just to go for a loan to establish a bank. Politicians there is God oooo."

"Y3 te sika so na y3 br3"...has now gone for loan again..ebi for what ahh "Development Bank Ghana" kyere3 s3 "Ghana beyond Aid" ay3 beans...La Borrow paa ni," another said.

Below are some social media reactions on the impending establishment of Development Bank Ghana

Development Bank Ghana ????????????. Spent so much money to clean the financial sector just to go for a loan to establish a bank. Politicians there is God oooo. Yoooo ????????????

— Ghana Development Bank ???????? (@lordgatavenue) May 21, 2021

We have NIB, ADB still you go for loan of €170m to build another bank. Till when will these leaders think about the entire nation rather than their families and parties..? What will Development Bank Ghana do that ADB & NIB can’t do.3da bibini begyae gyimi no mebo s3 papa. Mmoa

— Ghana Development Bank ???????? (@lordgatavenue) May 21, 2021

Shutdown banks and microfinance..people derma money Lock..then consolidate the rest...yet goes for loan to establish a development bank ghana..meanwhile y3n ni light..monopoly and party hiaa sika

— On Behalf Of Myself ✪ (@HomeWork_Gh) May 21, 2021

"Y3 te sika so na y3 br3"...has now gone for Loan again..ebi for what ahh "Development Bank Ghana" kyere3 s3 "Ghana beyond Aid" ay3 beans...La Borrow paa ni

— On Behalf Of Myself ✪ (@HomeWork_Gh) May 21, 2021

So you borrow money to establish a bank that you claim will inject over billion dollars into Ghana’s economy ei????‍♂️
Where will that over a billion dollars come from when you couldn’t raise the money to set up the “ Development Bank Ghana “yourself??? Please educate me???????? https://t.co/bqj6MpWQN7

— Kofi Swych (@KSwych) May 21, 2021

We will be here and we will one day learn that this government's officials have over 50% shares in the Development Bank Ghana.
Don't get shocked when it happens.

— TaadiBoyFromVolta ???????? (@kofiSelormDuke) May 21, 2021

You are just wasting money, just Development Bank Ghana issue too press conference? Even the Nana Borrow is not back from his trip. Whaf If he borrows anoda money before he returns https://t.co/rDGsoNCvEV

— Fix Ghana (@Okuluman) May 21, 2021

Some Ghanaian social media users are asking why President Akufo-Addo promised Ghana Beyond Aid yet received 170 million euros from the European Investment Bank for the establishment of the Development Bank Ghana. Are you also asking same??#BrightNews pic.twitter.com/F1vGTj0P63

— Obuasi_Biochemist????‍???? (@Akwesi_Paa_Bryt) May 20, 2021

Dear Lord Jesus please give us grace to fight these system of corrupt leaders who are full of wickedness! Chaley how can you go and spend 4 million dollars flying around to go borrow money to establish development bank Ghana when there are many banks around?! Me I dey we go see!

— #TheJesusRevolution❤️✊???? (@GhanaSocialU) May 21, 2021

Erm, Development Bank Ghana?
For what?
We are lacking basic things but everyday, the government will be getting loans for some things bi with promises that it will bring billiens to the country but they solve nothing . Ah ????

— #FixTheCountry! (@the_6a6e) May 20, 2021