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I have been given over GH₵100K ‘haircut’- Franklin Cudjoe

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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
News
Madonna School crowned winners of first Inventopia-STEM competition

From Ama Tekyiwaa Ampadu Agyeman, Koforidua
Madonna School emerged winners of the maiden Inventopia-STEM (I-STEM) competition organised by M-Hub Technologies to promote creativity, innovation and practical problem-solving skills among basic school pupils.
Pentecost Preparatory School placed second, while Heaven’s Dew Montessori took the third position in the competition, which brought together six schools in Koforidua.
The participating schools were Madonna School, Trinity Royal School, Presbyterian Calvary Academy, Pentecost Preparatory School, Listen Educational Complex and Heaven’s Dew Montessori.
The competition was conducted in four rounds, with the first three focusing on basic questions and answers that tested the pupils’ critical thinking abilities

The final round required contestants to undertake practical projects by coding or building innovative solutions to address real-life challenges.
One of the projects showcased during the competition was a smart motorcycle safety system designed to prevent a motorcycle from starting unless the rider had put on a helmet, an innovation aimed at promoting road safety.
Speaking at the event, the Eastern Regional Manager of M-Hub Technologies, Mr Enoch Kekeli, said the competition, dubbed Inventopia-STEM (I-STEM), sought to encourage pupils to think creatively and develop practical solutions to societal problems.
He noted that many schools focused heavily on theoretical learning, leaving students with little opportunity to apply their knowledge in practical situations.
”We want to spark creativity in students. Most schools focus mainly on theory, but we are now in a technology-driven era where students must be able to apply what they learn to solve real-world problems,” he said.
Mr Kekeli said exposing children to practical STEM education would help nurture critical thinkers, innovators and problem-solvers capable of developing workable solutions and policies in the future.
He stressed that Science, Technology, Engineering and Mathematics (STEM) education was centred on hands-on learning, creative thinking and innovation rather than memorisation.
”If we want a brighter future in this technological age, we need to educate our children to embrace STEM so they can build, design and create solutions that work instead of relying only on theory,” he added.
He expressed the hope that the competition would inspire more schools to incorporate practical STEM education into their teaching to equip learners with the skills needed for the future workforce.
From Ama Tekyiwaa Ampadu Agyeman, Koforidua
News
ICGC inaugurates 19 Presbytery Committees

The International Central Gospel Church (ICGC) has inaugurated 19 Presbytery Committees to support the church’s governance and advance its global ministry.
The inauguration of the committees forms part of ICGC’s efforts to strengthen institutional leadership and enhance the delivery of its ministries as the church continues its international expansion.
The inauguration ceremony was held at Christ Temple East in Teshie, Accra, on July 9, 2026, under the leadership of the General Overseer of ICGC, Rev. Dr Mensa Otabil, and the General Secretary, Rev. Morris Appiah.
This was contained in a statement copied to The Spectator in Accra on Monday.
Rev. Counsellor Prince Offei, a columnist with the paper was also appointed as a member of the Presbytery Family Life Support Committee by the National Presbytery on June 29, 2026, with the committee’s work taking effect from July 9.
He joins a team comprising the chairman, Rev. Samuel Awuku Gyekye, Rev. Dr Fred Brako, Professor Irene Kretchy, Dr Sena Owusu-Gibson and Dr Albert Rockson.
The Family Life Support Committee was tasked with providing strategic direction and resources to strengthen marriages, families and individual well-being across ICGC assemblies worldwide.
Its mandate includes promoting marriage enrichment and premarital counselling, supporting families through crises, grief and trauma, strengthening parenting education and family discipleship, enhancing mental health and counselling services based on biblical principles, promoting Alternative Dispute Resolution (ADR) for reconciliation, and training pastors and lay counsellors.
The committee, the statement said, forms part of the church’s broader governance structure, which also includes committees responsible for ordination and licensing, legal affairs, education, church order and doctrine, and disciplinary matters.
Rev. Counsellor Offei is a lecturer and faculty member of the Daniel Institute of Central University. He is also a mental health professional, ordained minister, certified Alternative Dispute Resolution practitioner, author, television personality, and marriage and family counsellor.
He is the founder and Executive Director of Counsellor Prince and Associates Consult (CPAC) and is known for his writings on relationships, family life and mental wellness, including contributions to The Spectator.
Present at the ceremony were senior presbyters which included Rev. Christopher Yaw Annor and Rev. Anthony Cudjoe.
By Spectator Reporter
The International Central Gospel Church (ICGC) has inaugurated 19 Presbytery Committees to support the church’s governance and advance its global ministry.




