News
I have been given over GH₵100K ‘haircut’- Franklin Cudjoe
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 Vice Chancellor of the Pentecost University, Apostle Professor Kwabena Agyapong-Kodua, is advocating an intentional conversation about the development and education of the boy child in creating stronger families and societies.
According to him, the boy child must not be ignored in conversations on leadership, education, family stability and national transformation because they are key to national development.
“There is a reason why a boy child must not be denied opportunities like education; he is a future leader. When boys are trained well, society becomes safer and stronger,” he stated.
Apostle Prof. Agyapong-Kodua made the remark at a forum organised by the Church of Pentecost Schools Outreach Ministry in Accra to observe the International Day of the Boy Child observed on May 16.
It was held in collaboration with the Pentecost Men’s Ministry and the Ghana Education Service (GES), and under the theme: ‘Flourish and Thrive: Investing and Unleashing Boys for Strong Families and Communities.’
Leading the discussion, the Pentecost University Vice Chancellor warned that poor mentorship, declining in education, harmful social media influences and emotional neglect have made a lot of young boys vulnerable.
With a lot of the attention switching to the girl child, the boy child, he said was confronted with many challenges including violence, substance abuse, educational decline, emotional neglect and the absence of positive role models.
According to Apostle Prof. Agyapong-Kodua, he noted that boys were turning to social media for direction due to the absence of fathers and mentors to help shape their lives.
“If we are not intentional, social media will mentor our children for us. We are not saying they should not use social media, but they should be guided to access the right information to excel in life,” he stated.
Prof. Agyapong-Kodua urged society to encourage boys to become creators of technology rather than mere consumers.
Contributing, Madam Gifty Asiedu, Director of the Girls’ Education Unit at the GES Headquarters, said the service remained committed to ensuring that no child was left behind, adding that, “supporting the boy child should not come at the expense of progress made in girl-child education.”
“If you focus intentionally on one gender and neglect the other, you create a societal problem,” she underlined.
She said the GES had observed some decline in boys’ retention in school, although the gap between boys and girls was not yet too wide.
“Over the years, attention has been focused on the girl child and we have seen the benefits. However, data now show that the statistics concerning the boy child continue to decline,” she indicated.
She explained that the service was implementing gender-responsive education to ensure that classroom teaching addressed the needs of both boys and girls equally.
Elder Barima Acheampong Sarpong II, Deputy Director of the Pentecost Men’s Ministry and Chief of Asante Asaman in the Ashanti Region, said society needed to critically examine the plight of boys.
“As we celebrate the International Day for the Boy Child, I urge every man to identify one boy child, find out how he is doing and dedicate some time to mentoring him,” he explained.
The programme, attended by educators, church leaders and policymakers, was the second edition following a partnership initiated last year between the Schools Outreach Ministry, the Pentecost Men’s Ministry and the GES.
It sought to improve school enrolment, completion rates and learning outcomes among boys so they could grow into responsible men who would build strong families and communities.
By Esinam Jemima Kuatsinu
Candidates that wrote the 2026 Basic Education Certificate Examination (BECE) in Ho Municipality are hopeful of obtaining good grades to make everyone especially their parents and the Regional Minister proud.
The candidates said they had so far sat the examination with focus and integrity after a call from Mr James Gunu, Regional Minister to avoid examination malpractice saying, they expected great performance upon release of results.
Mr Gunu, at the start of this year’s BECE delivered the message during a monitoring visit to some centres in the municipality including Ho Kpodzi EP Basic A School, Mawuli School, Mawuko Girls Senior High School (SHS), and Kabore School.
He urged the candidates to rely on hard work and discipline, warning that shortcuts could jeopardise their future.
“Stay focused and give your best in this year’s BECE – your determination and hard work will pay off. Avoid shortcuts and examination malpractice; integrity matters just as much as success,” he said.
The Minister, accompanied by the Ho Municipal Chief Executive, the acting Volta Regional Director of Education, and the Ho Municipal Director of Education, encouraged candidates to view the exam as a foundation for their academic journey and to celebrate responsibly after the final paper, commending parents, guardians, teachers, and officials of the Ghana Education Service for their support in preparing the candidates.
Candidates at some of the centres Ghana News Agency visited, echoed the call for honesty and high standards.
At Kabore School, Ms Francisca Atsu of Sokode Lokoe MA Basic School said, “The Regional Minister was here earlier to speak to us and also to encourage us. We’ve done our best. I assure him that we will make him and our parents proud.”
At Taviefe SHS Centre, Ms Valentina Sakpla of Taviefe R.C Basic School added, “We are expecting good results to make everyone proud and for our own good.”
Mr David Dotse, Supervisor at Kabore School, hosting 11 schools, with a standby ambulance on site to cater for any health emergency, reported smooth proceedings. –GNA
