Bussiness
DDE: IBF urges members not to sign up to govt’s programme as deadline ends today
Senyo Hosi, Convener, IBF
The Individual Bondholders Forum (IBF) has urged its members not to sign up to the government’s Domestic Debt Exchange programme if they intend to maintain their original bonds as the deadline expires today, January 31, 2023.
According to IBF, its members could exempt themselves without any punitive actions by government.
The group says this is due to the government’s assurance to honour its obligations to individuals who opt to retain their original bonds during their meeting on Friday, January 27.
“We welcome the Minister’s affirmation of the rights of individual bondholders to have the benefits of their current investment fully honoured without discrimination or punitive actions against non-DDE individual investors.
“This, in effect, presents individuals with a self-exemption option which bears no negative implications as far as government’s payment obligations are concerned,” a statement signed by the Convener of Forum, Senyo Hosi said on Monday, January 30.
He urged his members not to sign up for the debt exchange if they’ve decided to maintain their original bonds.
The statement however, said, “If you feel compelled to support the DDE programme for other reasons, please, do not hesitate to sign on to the DDE.”
The statement emphasized that members should not fear being punished for rejecting the debt exchange programme.
“The law is in your favour and the Minister of Finance has been categorical in affirming your right by stating that he will honour obligations under the old bonds and will not undertake any action to punish individuals who reject the DDE.”
“To support the turnaround of the economy, we encourage all not to lose confidence in Ghana’s financial system. The continuous investments and savings of everyone is required to spur the growth of our economy.
“We urge every citizen to file their taxes and honestly pay up all obligations due. We all owe it to Mother Ghana to make things work.”
Source: Starrfm.com.gh
Bussiness
Charterhouse announces the Business Elevate Series with launch of ‘The Gastro Feastival’
Charterhouse, Ghana’s leading event management and audiovisual production company, is marking its 25th anniversary of delivering top-tier events with the introduction of an exciting new initiative: The Business Elevate Series.
This innovative series is designed to shine a spotlight on key economic sectors through a series of dynamic B2B and B2C events, including industry conferences, seminars, and exhibitions.
Kicking off the series is The Gastro Feastival, a groundbreaking annual food industry festival that will showcase Ghana’s rich and diverse food ecosystem and agribusinesses from production to consumption.
The launch event will take place on Friday, March 7, 2025, from 4:00 PM to 6:00 PM at the Grand Arena (Accra International Conference Centre).
This landmark event will bring together food industry stakeholders, enthusiasts, experts, and organizations to highlight the food industry’s critical role in Ghana’s socio-economic development and culture.
It will also promote food security, digital innovation, women’s empowerment, youth employment in agribusiness, and sustainable practices.
The Business Elevate Series is a game-changing initiative designed to foster growth and transformation across multiple sectors. With Charterhouse’s deep expertise in organizing impactful meetings, the series aims to unlock investment opportunities, drive innovation, and catalyze social and economic change.
The Gastro Feastival will address six major pillars that drive industry transformation: Investment Opportunities; Job Creation; Innovation, Technology, and Digitization; Youth Involvement (entrepreneurship and career opportunities); Women’s Involvement; Environmental and Social Governance (ESG); Export Opportunities
The event will also establish a Resource Bank, spotlighting key growth opportunities and ensuring the effective allocation of resources to transform Ghana’s food industry.
The Gastro Feastival is a Charterhouse initiative, with Kosmos Innovation Centre as the technical partner.
Bussiness
Ghana’s GDP shows economy is fast recovering despite DDEP – Finance Ministry
Ghana’s Gross Domestic Product (GDP) indicates a rapid economic recovery despite global challenges and ongoing debt restructuring, according to the Ministry of Finance (MoF).
The Ministry in a statement today indicated that latest data from the Ghana Statistical Service (GSS), cumulative economic growth for the second quarter (Q2) of 2024 reached 6.9%, a notable increase from the 4.7% recorded in the first quarter of 2024.
The MoF statement further noted that, “The economy’s robust recovery is in response to the macroeconomic stability and growth interventions that government is pursuing under our IMF-supported Post Covid-19 Programme for Economic Growth (PC-PEG).”
According to them, the overall real GDP growth for the first half of 2024 rebounded strongly, with year-on-year GDP growth averaging 5.8% for the period, significantly higher than the 2.9% recorded in the same period in 2023.
By Edem Mensah-Tsotorme
Read full statement below
