An Economist with the School of Business of the University of Cape Coast (UCC), Dr. John Gatsi has blamed the Bank of Ghana (BoG) for poorly communicating the take over of UT and Capital Banks by the Ghana Commercial Bank (GCB).
The Central Bank, he explained should have better managed the communication to avoid the fear and panic that greeted the announcement.
Customers of the two banks across the country including the Central regional capital Cape Coast stormed the offices of the two banks to withdraw their deposits fearing losing their investments.
But in an interview with Ultimate News’ Central regional correspondent Kwaku Baah-Acheamfour, Dr. Gatsi said the BoG could have done better in the take over process, attributing the collapse of the two banks to poor management.
He expressed optimism that the take over will not affect the economy significantly.