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AGI donates PPE, GH¢10,000 to VRCC
The Eastern, Volta and Oti Regional branches of the Association of Ghana Industries (AGI) has donated Personal Protective Equipment (PPE) worth GH¢11,000 and a cheque for GH¢10,000 to the Volta Regional Coordinating Council (VRCC) to support in the fight against coronavirus (COVID-19) in the region.
The items comprised paper towels, surgical masks, gloves, liquid soap, hand sanitisers, bottle water, drinks, infrared thermometers, bread and re-usable masks.
Handing over the PPEs to the VRCC on Wednesday, the Regional Vicechairman of AGI, Madam Lucy Tenkorang said the donation was made to help the region curb the spread of COVID-19.
The Volta Regional Minister, Dr Archibald Yao Letsa, who received the items, thanked AGI for supporting the fight against the disease in the region.
He assured that all items and the money donated would be put to good use at the treatment centre.
Dr Letsa appealed to other organisations, groups and individuals to support the region with money and PPE to curb the spread and also treat people at the treatment centre.
“We need support from everybody no matter how small it is, we will appreciate it,” he added.
He said that when samples were taken to Noguchi Memorial Institute for Medical Research, it took one week before results were released but with the UHAS testing centre it took only three hours.
He appealed to restaurants in the Ho municipality to cook for people at the testing centre, adding “By doing this we are motivating those who are spending hours doing the testing for us.”
FROM GRACE SENAM KLAY, HO
News
Ghana achieves 98% participation in Eurobond debt restructuring
The Ministry of Finance has announced the successful completion of its Eurobond debt exchange and consent solicitation process.
The initiative, which aims to restructure Ghana’s Eurobond debt, has received overwhelming support from bondholders, marking a significant milestone in the country’s economic recovery efforts.
Launched on September 5, 2024, the offer invited eligible holders of Ghana’s Eurobonds to exchange their existing bonds for new ones under two menu options—Par and Disco.
As of the final expiration deadline on September 30, 2024, 98.6% of bondholders, representing the recognized principal amount of the existing bonds, participated in the offer.
During the bondholder meetings on Thursday, October 3, holders of the 2013, 2014, and 2015 WB-Guaranteed Notes passed extraordinary resolutions with over 90% representation, enabling the restructuring process to proceed smoothly.
Meanwhile, for Aggregated CAC Notes, consents exceeded 98.7%, meeting the required thresholds for the exchange.
A majority of bondholders (91% of the principal amount) opted for the Disco menu of new notes, while 7.6% chose the Par menu, which remained under its cap of U.S. $1.6 billion, leaving a balance of U.S. $605 million available for future allocation.
Subject to the terms of the exchange, a total of U.S. $126 million in consent fees will be distributed to eligible bondholders who submitted their instructions by the early consent deadline.
The new bonds are expected to be issued on or around October 9, 2024, with full settlement to follow shortly thereafter.
The successful completion of this exchange is a critical step in Ghana’s broader debt restructuring efforts under its International Monetary Fund (IMF) programme, further strengthening the country’s path towards debt sustainability and normalizing relations with international capital markets.
The Government of Ghana expressed gratitude to bondholders for their participation and support, emphasizing that this successful outcome reflects a shared commitment to restoring the country’s economic stability.
In preparation for the issue date, all existing Eurobonds, including those for which no consent or exchange instructions were given, will be blocked from trading to ensure a smooth final settlement.
Source: Citinewsroom.com
News
Update on Nana Asante Bediatuo’s health
The Office of the President has responded to news making rounds regarding the health of Secretary to the President, Nana Asante Bediatuo.
According to the office in a statement, they wish to inform the public about the health status of Nana Bediatuo Asante, Secretary to the President.
They revealed that following the conclusion of the meeting of the 79th United Nations General Assembly (UNGA) in New York, in the United States of America, where he served as a key member of President Akufo-Addo’s delegation.
The statement added that Nana Bediatuo Asante stayed behind to conduct further government business.
They added that he then began to feel unwell, and was subsequently admitted to hospital.
According to the statement, he is currently in stable condition and responding well to treatment. The medical team added that, Nana Bediatuo Asante’s recovery is on track, and we remain hopeful for his swift return to full strength.
“We ask for continued prayers and support for him and his family during this difficult period. Further updates will be provided when necessary,” he concluded.
By Edem Mensah-Tsotorme
