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Don’t demand outrageous bride price — Nana Ansah Kwao IV
Nana Ansah Kwao IV, Chief of Akwamu-Adumasa, has bemoaned how some parents use their daughters as a bait to extort money from suitors, making the process of marriage a complex one for some men.
The chief made this revelation to The Spectator when he touched on the need for parents and Ghanaians to appreciate the traditional marriage rite called “engagement”.
According to him, “it is alarming how some parents ridiculously demand outrageous bride price and long lists from men who want to marry their daughters”.
He said, the woman who would be given out in marriage was not for sale, and highlighted that in the olden days bride price (dowry) was presented to the bride’s family to express gratitude to the parents for grooming the woman for marriage.
He said this gesture was to identify that the would-be wife came from a home and a community, adding that it was to acknowledge all those who contributed in the upbringing of the lady concerned.
The chief condemned parents who even went to the extent of demanding airline tickets and expensive jewelry among other irrelevant products which to him, had got nothing to do with the process of marriage.
Nana Ansah Kwao IV explained that in Ghana, marriage was a bond between two families and that was why a man could be out of the country while the woman was also in another country but they could still marry in a community somewhere in Ghana on condition that the two families had consented to the marriage.
“Our traditional marriage rite bonded the couple and attracted blessings to them for a fruitful and peaceful marriage,” he stressed, and admonished Ghanaians to embrace their old cultural values.
By Alfred Nii Arday Ankrah
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
