Former President John Dramani Mahama has promised to restore the licenses of the banks that, in his view, were unjustifiably collapsed during the recapitalization exercise undertaken by the Bank of Ghana (BoG).

Delivering his formal acceptance speech at the University of Development Studies (UDS) on Monday, after his victory as flagbearer of the National Democratic Congress (NDC) on Saturday, he said “we shall promote robust, local participation in our banking and financial, telecommunication, tourism, mining and agric and manufacturing sectors to grow our economy and create sustainable employment for our youths.

“We will restore indigenous Ghanaian investments in the finance and banking sector and we will create a tier banking system that will serve various segments of the market.

“We will give the opportunity to experience banking hands who were laid off needlessly to secure their careers once more and move away from the menial jobs that they were compelled to take.

“As far as practicable the banking licenses that were unjustly canceled by this government will be restored.”