IMANI has been compromised - UNICOF

The Union of Industry, Commerce and Finance Workers (UNICOF) has taken a swipe at IMANI Ghana over its support for ADB’s float shares on the Ghana Stock Exchange.

According to the union, IMANI’s position on ADB’s initial public offer (IPO) is unethical for a think tank of its stature.

Policy Think Tank, IMANI Ghana is supporting a decision by the management of the ADB Bank to sell about 70% of the bank’s shares.

The bank is expected to offload a little over 100 million shares to the public to raise GH¢200 million.

IMANI Ghana argued that ADB should go public as this will put the bank in a competitive position and increase its efficiency.

But Speaking to Citi Business News General Secretary of UNICOF John Esiape alleged that IMANI Ghana seem to have been induced by the management of ADB Bank hence their support for the IPO.

“For me people should be left to their conscience, I mean we know what IMANI means in this country and if what we are hearing is true then the whole credibility of IMANI is gone. So we leave them to their conscience. We believe that everybody should have a say and so if IMANI or any other body should say anything to enrich the public discourse we are okay but the motive behind it and the approach is unethical.”

General Secretary of UNICOF told Citi Business News that the conduct of IMANI Ghana in the matters of ADB sale is unprofessional.

In a related development, the Union at its press conference on Monday renewed it calls for the Managing Director of ADB Bank Stephen Kpordzih to be removed immediately and unconditionally.

The Union wants its members across the country to hoist red flags in their companies which will be followed by a demonstration and a strike if the MD is not removed.

“For us he crossed the red line in ordering the Police to come after us. The MD has virtually miss led the staff, he has treated them with ironical methods, he is virtually running a man show as the staff feel deceived and fooled and to top it all up he gets the police to come in and deal with the workers.”

Meanwhile, IMANI Ghana has described as false allegations that they have been induced by the management of ADB.

According to IMANI Ghana, they received 20,000 Ghana Cedis from ADB as sponsorship for their 10th Anniversary Celebration last year.

President of IMANI Ghana, Franklin Cudjoe said: “That is complete nonsense if they should go and ask their MD why we got that money. It was a sponsorship they gave us last year for our 10th anniversary that is all there is nothing more to say”

President of IMANI Ghana, Franklin Cudjoe said the allegation was false since the money was given to them last year saying that it was not just ADB bank but other banking institutions in the country supported IMANI Ghana in the 10th anniversary celebrations rejecting all claims that IMANI Ghana would involve itself in acts of corruption.