Bussiness
Individual bondholders threaten lawsuit over debt exchange programme
A group of individual bondholders are threatening to take legal action against the government for including them in the controversial debt exchange programme.
The group, known as the Ghana Individual Bondholders’ Forum in a statement signed by one of its convenors Senyo Hosi urged individual bondholders to reject and refrain from complying with the mandatory deadline imposed under the Domestic Debt Exchange (DDE) programme.
It further urged indirect bondholders such as investors in mutual funds, cash trusts, and balance funds to inform their fund managers not to accept the DDE.
It further advised government to open a channel of communication for “immediate frank, transparent and sincere dialogue on the DDE with the IBF with the view to seeking an effective resolution to the developing impasse and the fast-depleting confidence in the Ghanaian economy.”
“The medium- to long-term prospect and outlook of the domestic investment culture in Ghana is going to be affected by this DDE initiative and we call on government to demonstrate the needed sensitivity to enable a constructive resolution in the best interest of all,” it added.
The government in December disclosed that the group of bondholders who hitherto were exempted from the local debt exchange program will be included in the program.
The decision to include the individual bondholders was taken after the government yielded to demands by Labour Union to exempt pension funds from the debt exchange programme.
Ghana in December further extended the deadline to register for its domestic debt exchange to January 16 in order to “secure internal approvals” from the financial sector, according to the Finance Ministry.
The Ministry of Finance also announced a change to the debt exchange, with eight additional instruments to be created.
Under the original plan, local bonds were to be exchanged for new ones maturing in 2027, 2029, 2032, and 2037, with annual coupons set at 0% in 2023, 5% in 2024, and 10% from 2025 until maturity.
Announcing the latest extension, the Finance Ministry said that eight additional instruments would be created, bringing the total number of new bonds to 12, with one maturing each year from 2027 to 2038.
The Ghana Individual Bondholders’ Forum said the following in its statement:
Pending further consultations and engagements (including the pursuit of legal action where necessary),
we entreat as follows:
1. Direct Bondholders:
Reject and refrain from complying with the mandatory deadline imposed under the DDE program
and join the efforts of the IBF.
2. Indirect Bondholders (Investors in mutual funds, cash trusts, balance funds).
Inform your fund managers not to accept the DDE.
3. Government
Kindly open a channel of communication for immediate frank, transparent and sincere dialogue on the DDE with the IBF with the view to seeking an effective resolution to the developing impasse and the fast-depleting confidence in the Ghanaian economy.
Source: citinewsroom.com
Ghanaian dancehall artiste Charles Nii Armah Mensah, known as Shatta Wale, has won two awards at the 43rd International Reggae and World Music Awards (IRAWMA) held in Florida over the weekend.
He picked up the Best African Dancehall Entertainer award as well as Concert of the Year for ShattaFest.
In a statement, Shatta Wale’s management expressed appreciation to the organisers and supporters of the awards.
“Management would like to sincerely appreciate the organisers of the IRAWMA awards for the recognition and continuous support for African music on the global stage.
“We also extend our deepest gratitude to fans across the world, especially the Shatta Movement fraternity, for their unwavering support, votes, and dedication throughout the years,” the statement said.
The statement added that the latest wins reaffirm the artiste’s position as one of Africa’s leading musical exports and a prominent figure in global dancehall culture.
The awards bring Shatta Wale’s total haul at the IRAWMA to 11, highlighting his continued presence on the international reggae and dancehall scene.
At last year’s edition, he won three awards: Best African Dancehall Entertainer, Best Music Video for “Killa Ji Mi”, and Best Crossover Song for “Commando” featuring Bounty Killer. -GNA
Bussiness
Global Market Volatility: Gov’t absorb GH¢2.00 per litre on diesel and GH¢0.36 per litre on petrol
Effective Thursday, April 16, 2026, which is the next pricing window, the Government will absorb GH¢2.00 per litre on diesel and GH¢ 0.36 per litre on petrol.
This intervention is intended to cushion customers and ease the cost burden on households, transport operators, and businesses.
The measure, approved by Cabinet, is in response to rising prices of petroleum products on the international market, which have significantly impacted ex-pump prices in Ghana.
This temporary intervention will remain in force for a period of one (1) month.
During this period government will continue to closely monitor developments in the global oil market and assess the need for further policy adjustments.
A statement signed by Minister of Government Communications, Felix Ofosu Kwakye noted that they remain commited to maintaining price stability, protecting livelihoods, and supporting Ghana’s economic recovery in the face of external shocks.
