News
Extend voter registration – Osie Adza Tekpor VI
The Osie of Avatime, Osie Adza Tekpor VI has called on the Electoral Commission (EC) to extend the time frame for the voter registration to minimise the congestion at the registration centres.
His appeal coincides with the commencement of the second batch of Phase One of the exercise in the Avatime Traditional Area and other parts of the Ho West District on Monday.
Osie Adza Tekpor noted that the scenes at other registration centres were cause for concern, as they revealed stampedes and flagrant violations of COVID-19 safety protocols, and slow registration procedures.
In an interview at Vane last weekend, he entreated the EC to take a firm stance to ensure that the health of the people was not compromised during the exercise.
“We need our people to be alive and healthy to contribute to the growth of the country, after the registration,” the Osie added.
He blamed the chaotic scenes at some of the centres on the craving of most eligible persons to meet the deadline, saying that an extension of the exercise would definitely help to allay the fears and anxieties of missing out on the registration among the electorate.
Meanwhile, the head of the EC in the Ho West District, Mrs Kafui Randolph had given the assurance that no eligible person would be left out of the exercise which would take place with strict adherence to COVID-19 safety measures.
“We are set with adequate machines and registration materials for the exercise,” she told this reporter.
From Alberto Mario Noretti, Vane
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
