News
Western Regional Police honours four fallen heroes
The Western Regional Police Command on Monday, held a memorial parade at the Police Headquarters at Sekondi in honour of four personnel, who died in line of duty.
The day was also set aside to remember fallen heroes in the region.
The fallen heroes were General Constable Francis Osei Amankwa, who died at Wassa Juabo, in 2016, General Sergeant Frank Degbey, of Rapid Deployment Force (RDF), who died in 2017, General Corporal Nicholas Duku, died in 2018 and Lance Corporal Abdulai Sumaila, from the Marine Training School, who also died in 2018.
Addressing the parade, the Western Regional Police Commander, Deputy Commissioner of Police (DCOP) Mr Felix Fosu-Agyeman said the death of the heroes was a great loss to the Police Administration, the Western Region, their families and the entire nation.
He added: “Today we have all witnessed the wreath laying ceremony and parade organised in honour of our departed colleagues. We solemnly reflect on this day. Personnel in the Western Region will continue to work very hard to provide maximum security for the good people of the region. We pray that the good Lord Almighty will continue to strengthen the bereaved families at all times.”
DCOP Fosu-Agyeman announced that a church service would be organised on Friday at the forecourt of the Regional Headquarters Sekondi to say prayers for the fallen heroes, their families and the police in the region.
He assured that the police would do everything possible to ensure peaceful elections in the region in December 7 and reminded all persons to stay away from violent situations, before, during and after the period.
“We wish to entreat the public to continue to be vigilant and volunteer credible information that will lead to the arrest of criminals in the communities,” he said.
From Clement Adzei Boye, Sekondi
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
