News

New Times Corporation holds annual thanksgiving service

The New Times Corporation (NTC) has held an annual thanksgiving service to usher in the New Year.

Staff sang praises, danced and prayed to commit themselves into the hands of God. They also asked for protection and guidance as the year unfolds.

A section of NTC Staff singing to the glory of God.

Speaking under the theme; ‘ ‘Four pills for divine success’ Rev. Joseph Oman Ocquaye, of the Presbyterian Church of Ghana, urged the staff to embrace themselves for the good things God had planned for them this year.

Rev Joseph Oman Ocquaye preaching a sermon Photos Lizzy Okai

Touching on the four pills, Rev. Osman mentioned that one needs to be blameless, upright, God-fearing and avoid evil this New Year to attract God’s blessings and favour.

Rev Joseph Oman Ocquaye [middle] praying for the Corporation with him right Mr Adu-Owusu.

Referencing Job 1:1-12, he urged the staff to emulate the lifestyle of Job and try as much as possible to live a blameless and upright life in order to extract the good things God has in store for them.

The Managing Director of the Corporation, Mr Martin Adu- Owusu thanked the staff for their hard work over the previous year and urged them to put in much efforts to possess every good thing God has planned for them this year.

Mr Martin Adu-Owusu delivering his address.

“I want to use this opportunity to commend all of you for what you have done in the last year. It was a very difficult year but you worked hard and we are here today thanking God for that. I am so grateful for you all for your sacrifices’.

There were some ministrations at the event as staff danced and praised God for his blessings.

• Rev Ocquaye [second from right] with Mr Martin
Adu-Owusu (second left) Mr Dave Agbenu, [ieft]
and Mr Osman after the thanksgiving service — • Rev Ocquaye [second from right] with Mr Martin Adu-Owusu (second left) Mr Dave Agbenu, [ieft] and Mr Osman after the thanksgiving service

Management members present were Mr. David Agbenu, Editor of the Ghanaian Times, Mr. Suleman Osman, Acting Human Resource Manager, Mrs. Georgina Naa- Maku Quaittoo, Acting Editor of The Spectator and Mr. Ismaila Attaul-lah, Head of Audit.

• Mrs Quaittoo the of the Spectator
[middle] singing at the church service
with Mr Agbenu [left] Times and Mr.
Suleman Osman — • Mrs Quaittoo the of the Spectator [middle] singing at the church service with Mr Agbenu [left] Times and Mr. Suleman Osman

By Elizabeth Agyeibea Ackon

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