Ex UT, Capital Bank Workers Cry; "We Can’t Pay Rent, School Fees"

General News Ex UT, Capital Bank Workers Cry; \

Life has become very unbearable for over eight hundred workers of defunct UT and Capital Banks, more than one year after they lost their jobs.

In August 2017, the Central bank approved a Purchase and Assumption transaction with GCB Bank to transfer all deposits and selected assets of UT Bank Ltd and Capital Bank Ltd to GCB Bank Ltd, after the Bank of Ghana revoked banking licences of the two banks (UT and Capital).

More than thousand workers of the two banks were rendered jobless after the consolidation of the banks.

Speaking to Mugabe Maase on ‘Inside Politics’ on Radio XYZ 93.1 on Thursday, Raymond Addai-Danquah, spokesperson for the ex workers noted that they are battling for their exit pay and almost all members of the group find it extremely difficult to make ends meet.

According to him, all attempts to get authorities get them their exit pay since they were rendered jobless in August last have proven futile.

Others who had cars, he said, had to turn them into commercial ones to enable them cater for their families. “Some of us have turned into taxi and Uber drivers.”

He said the most saddening part was that some of them who reside in urban areas are unable to pay their rent, making life uneasy for them even as they struggle to get job offers.

“We can’t pay our rent, we can’t pay our kids’ school fees,” he disclosed, adding that some of their colleagues have to put up with friends for survival because of rent issues.

Mr Addai-Danquah also bemoaned the stigma they have to deal with when they apply for jobs, explaining that “people doubt our competencies, considering the circumstances surrounding the collapse of the banks.”

Earlier today, the leadership of the group met with deputy minister of Finance, Abena Osei Asare on how best they can get their exit pay.

Raymond is optimistic the “informal meeting will yield results” to enable the former workers of the defunct banks start “something for themselves.”