The Ghana Mineworkers’ Union (GMWU) of the Trades Union Congress (TUC) has petitioned the Finance Minister over more than GH¢380 million in funds belonging to over 19,000 mineworkers that remain locked up.
The union is demanding urgent action to recover the funds, warning that continued delays could trigger demonstrations and strikes across the mining sector.
In a petition dated August 20, 2026, the GMWU called for the immediate resolution of issues involving distressed Specialised Deposit-taking Institutions (SDIs), including The Seed Funds Savings & Loans Limited (TSF) and Jislah Financial Services Limited.
The affected funds include workers’ Provident Fund contributions, Welfare Funds, Leave Savings, Personal Investments and Severance Packages.
The union said the money became inaccessible following the financial sector clean-up by the Bank of Ghana.
The GMWU said it has engaged the Bank of Ghana on the matter since 2021, but despite several meetings and assurances, no lasting solution has been reached.
The union said the situation has placed significant financial pressure on affected workers, especially retirees and redundant workers who need the funds to support their families and cover health-related expenses.
It also expressed concern over recent statements suggesting that there are no immediate plans for government recapitalisation support for savings and loans companies.
According to the union, this appears inconsistent with earlier assurances that outstanding issues from the financial sector clean-up would be resolved through deliberate policy interventions.
The GMWU warned that the continued delays are threatening industrial peace in the mining sector. It said its leadership has worked to prevent industrial action since 2021 but is increasingly struggling to maintain calm among affected workers.
“The situation is becoming increasingly difficult to manage due to the continued delays and recent statements suggesting that no immediate resolution is in sight,” the union stated.
The union warned that failure to act could lead to demonstrations and strikes, potentially affecting mineral production, government revenue, investor confidence and the wider economy.
The GMWU is demanding the full refund of all locked-up funds belonging to affected workers and an urgent meeting with the Finance Minister to find a solution.
“Denying these workers access to their legitimate life savings undermines industrial harmony and social stability across mining communities in Ghana,” the petition said.
