Mineworkers protest, demand release of locked-up funds for over 19,000 miners

The Ghana Mineworkers’ Union (GMWU) is mounting pressure on the government and the Bank of Ghana (BoG) to release funds belonging to more than 19,000 miners whose savings remain locked up in financial institutions affected by the financial sector clean-up.

The affected funds include provident and welfare funds, leave savings, individual deposits and severance packages, which the Union says were placed with financial institutions duly licensed and regulated by the Bank of Ghana.

Members of the GMWU’s National Executive Council have expressed frustration over the prolonged delay in accessing the funds, arguing that miners who entrusted their savings to regulated institutions should not be left to bear the consequences of their collapse.

The Union has therefore called on the Bank of Ghana and the government to take urgent steps to settle the outstanding claims and bring relief to the affected miners.

According to the GMWU, its concerns have remained unresolved despite assurances from successive Governors of the Bank of Ghana and references to commitments contained in International Monetary Fund (IMF) reports issued in 2023 and 2024.

The Union said Finance Minister Dr Cassiel Ato Forson had indicated that the Bank of Ghana must first recover assets belonging to the affected financial institutions and use the proceeds to settle depositors.

The Minister, according to the GMWU, has also explained that the Ministry of Finance currently lacks the resources to directly settle the outstanding claims.

The Union, however, insists that the government and the central bank must find an alternative mechanism to ensure that the affected miners recover their savings without further delays.

It argued that the funds represent workers’ hard-earned savings and benefits, making the continued uncertainty surrounding their release a serious concern for thousands of miners and their families.

As part of efforts to intensify pressure on the authorities, the GMWU is expected to present a petition to the Minister of Finance, the Governor of the Bank of Ghana, Dr Johnson Asiamah, and the Minister of Lands and Natural Resources, Armah Kofi Buah.

The Union hopes the petition will compel the relevant authorities to take concrete steps towards resolving the matter and ensuring that the locked-up funds are finally paid to the affected miners.