The Convener of the Individual Bondholders’ Forum, Senyo Hosi says individual bondholders who had agreed to the Domestic Debt Exchange Programme can go back for their investments if they have a change of mind.
Senyo Hosi in an interview with Citi News confirmed that some withdrawal requests have already been honoured.
“The Central Securities Depository is honouring DDE withdrawal requests. Don’t feel distressed if you have initially agreed to DDE, it could be that you initially did not understand what was happening. You can just go to your bank and tell them you have changed your mind.”
“We have received a lot of confirmations from a lot of our members that their withdrawals from the DDE are being honoured, and if you have not signed already, we advise you not to,” he added.
He further indicated that the campaign against the programme continues unabated.
The Individual Bondholders Forum on Thursday petitioned Togbe Afede XIV, the Agbogbomefia of the Asogli State, to help them get an exemption from the Domestic Debt Exchange Programme.
Addressing the former President of the National House of Chiefs on Thursday, the Convener of the Individual Bondholders Forum, Senyo Hosi said: “Togbe the matter is an eye red matter and for someone who has led the capital market and is one of the players who birthed the capital market, besides your royal place as the Agbogbomefia of the Asogli State, you are a pioneer in this industry, I do not want to believe this is your voice and the destination you assured us when your voice was heard back then.
“So we are here to petition your office, to petition you as an individual and the state of Asogli not to sit by and watch the lives of 6.5 million people devastated and subjected to shackles of penury. So our plea here is very simple, the steps being taken by the government are unsustainable and very unnecessary.”
The Individual Bondholders Forum led by Senyo Hosi has recommended to the government to divest loss-making, defunct, and troubled 17 State–own enterprises.
The Individual bondholders also suggested that the government review the Free SHS Programme to make it more efficient through effective targeting and allowing parents who can pay to do so.
According to the group, “beneficiaries should be students that patronize Senior High Schools in their communities whilst other students should pay for boarding. However, the government can pay for students who do not have Senior Secondary schools in their communities.”
The group stated that divesting the 17 non-performing SOEs and reviewing the free SHS alone will provide the government with two billion cedis.
The group also urged the government to maintain the 2022 capital expenditure level by reducing the non–ABFA MDA and foreign finance Capex provisions by 50% which they claim will provide the 10.7 billion Ghana Cedis.Read Full Story