News
I have been given over GH₵100K ‘haircut’- Franklin Cudjoe
- /home/u249204778/domains/spectator.com.gh/public_html/wp-content/plugins/mvp-social-buttons/mvp-social-buttons.php on line 27
https://spectator.com.gh/wp-content/uploads/2022/12/DE75AD20-6954-413D-8FB6-D317DCF7AACE.jpeg&description=I have been given over GH₵100K ‘haircut’- Franklin Cudjoe ', 'pinterestShare', 'width=750,height=350'); return false;" title="Pin This Post">
- Share
- Tweet /home/u249204778/domains/spectator.com.gh/public_html/wp-content/plugins/mvp-social-buttons/mvp-social-buttons.php on line 72
https://spectator.com.gh/wp-content/uploads/2022/12/DE75AD20-6954-413D-8FB6-D317DCF7AACE.jpeg&description=I have been given over GH₵100K ‘haircut’- Franklin Cudjoe ', 'pinterestShare', 'width=750,height=350'); return false;" title="Pin This Post">
Founding President & Chief Executive Officer (CEO) at IMANI and African Liberty.org, Franklin Cudjoe has revealed that he has been given a ‘haircut’ as a result of the government’s Debt Exchange Programme.
In financial markets, a haircut refers to a reduction applied to the value of an asset.
This domestic debt exchange is part of a more comprehensive agenda to restore debt and fiscal sustainability.
It involves an exchange for new Government of Ghana bonds with a coupon that steps up to 10% as soon as 2025 and longer average maturity.
Revealing the plight of his investment on facebook, he wrote, “I have been given a haircut of a little over GH₵100,000 cedis in my EDC investment made over the years based on Marked to Market value.
According to Mr.Cudjoe “My Fund Manager adds a note rather painfully, that Investors that choose to remain in the fund until Ghana’s macroeconomic health and bond prices improve are not likely to realize these losses.”
“Folks, based on IMANI’s analysis of government handling of finances from 2010 to 2022, leading to the publication of IMANI’s Fiscal Recklessness Index, this means waiting for at least 8 years for governments not to be so reckless in pretending to manage the economy. And this will be hoping against hope,” he stated.
Mr.Cudjoe cautioned that “until we fix our broken political system that rewards cheap sloganeering with limitless tax and borrowed funds to be splurged at will, we are going nowhere.”
Ghana is facing a very challenging economic situation amid an increasingly difficult global economic environment.
The latest debt sustainability analysis has demonstrated unequivocally that Ghana is faced with a significant financing gap over the coming years and that our public debt is unsustainable.
The Government is currently discussing the contours of a comprehensive international financial assistance package and a debt re-arrangement covering our domestic and external creditors.
The objective is to reduce the excessive burden created by the country’s debt on the economy and reach the debt sustainability targets defined by the IMF staff for the period through 2028 and beyond. In particular, to restore debt sustainability, the government plans to reduce Ghana’s total public debt-to-GDP ratio to 55% in present value terms.
By Edem Mensah-Tsotorme
The New Patriotic Party (NPP) has strongly criticised the decision of the Court of Appeal to acquit and discharge former Chief Executive Officer of the Microfinance and Small Loans Centre (MASLOC), Sedinam Christine Tamakloe Attionu.
In a statement issued on July 30, 2026, the party described the ruling as a “travesty of justice” and claimed it was politically motivated.
The Court of Appeal on Thursday overturned her conviction and 10-year prison sentence, which had been imposed by the High Court in April 2024 on charges including stealing, causing financial loss to the state, money laundering and breaches of the Public Procurement Act.
According to the NPP, the former MASLOC boss was tried for five years and convicted after the High Court examined evidence relating to alleged financial irregularities during her tenure between 2013 and 2016.
The party noted that she left Ghana while the trial was ongoing and was later extradited from the United States, arriving in Ghana on June 9, 2026.
The NPP argued that the trial court had found that her actions caused a loss of nearly GH¢90 million to the state and that the evidence against her was substantial.
It questioned why the conviction was overturned barely seven weeks after her return to Ghana.
The party further accused the Attorney-General of using state institutions to protect people connected to the governing party.
It claimed that several cases involving persons affiliated with the government had been discontinued since January 2025 and that the acquittal of Madam Tamakloe Attionu was part of that pattern.
The NPP linked the decision to the ongoing case involving its Ashanti Regional Chairman, Bernard Antwi Boasiako, popularly known as Chairman Wontumi.
It called for his immediate acquittal and discharge, arguing that his conviction was also politically motivated.
The party demanded that the Attorney-General publish details of all cases involving persons linked to the governing party that have been withdrawn, discontinued or otherwise terminated since January 2025, including the reasons for those decisions.
It called on the Judicial Council and the leadership of the Judiciary to take steps to restore public confidence in the justice system.
The NPP said it would pursue all lawful avenues, including a possible review at the Supreme Court where applicable, to ensure accountability in cases involving public funds.
The party maintained that the fight against corruption must not be selective and that public resources belong to all Ghanaians.
By: Jacob Aggrey
Former Attorney-General Godfred Yeboah Dame has disagreed with the Court of Appeal’s decision to acquit former MASLOC Chief Executive Officer Sedina Tamakloe Attionu, insisting that the prosecution proved its case beyond reasonable doubt.
Mr Dame made the remarks after the Court of Appeal unanimously overturned her conviction and 10-year prison sentence.
He maintained that the evidence presented by the prosecution during the trial was credible and sufficient to support the conviction.
According to him, Ms Tamakloe absconded after she had been confronted with evidence led by the prosecution.
Mr Dame questioned the basis for the acquittal and suggested that the current Attorney-General should explain what led to the Court of Appeal’s decision.
He wondered whether the appeal had been strongly opposed by the state.
When asked whether he would advise the Attorney-General to challenge the ruling, Mr Dame answered in the affirmative.
“Oh, definitely,” he stated.
The former Attorney-General spoke about the ongoing criminal case involving former Finance Minister Ken Ofori-Atta.
He indicated that an application for stay of proceedings filed at the High Court had been dismissed, and that a fresh application had been filed at the Court of Appeal.
Mr Dame argued that the charge sheet in the case was defective and that the appellate court should determine the issue before the trial proceeds.
He further criticised the decision to hear the case during the legal vacation, describing it as an “unjustified haste” and saying such trials had not been conducted during vacation periods in the past.
Mr Dame said his legal team would formally protest the directive allowing the case to proceed during the vacation.
The Court of Appeal’s ruling in favour of Ms Tamakloe has become a major legal and political issue, with the Attorney-General’s Department already announcing plans to appeal the decision at the Supreme Court.
By: Jacob Aggrey
