Ghana’s Agricultural Bank Said to Delay IPO on Labor Issues
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Ghana’s state-owned agricultural bank delayed an initial public offering for the second time in three years amid a dispute with labor unions, according to a person with knowledge of the matter.
The Agricultural Development Bank wants more time for talks with unions and will make an announcement on Wednesday, said the person, who asked not to be identified because they aren’t authorized to comment. Workers are questioning why the ADB left its headquarters to become a tenant in a new office block and demanding answers to why ADB’s capital fell below regulatory minimums, Tony Akiasu, the chairman of a union for junior workers, said June 2.