The Individual bondholders resisting government’s Domestic Debt Exchange (DDE) programme are optimistic that the Joint Technical Committee set up by the Finance Minister to find solutions to the current stand-off between government and the group will successfully deliver on its mandate.
The Individual bondholders have been asking government to completely exempt them from the programme and find money in the 2023 budget through expenditure cuts to pay them.
A joint committee was established by government as part of continuous engagements with domestic creditors to sign unto the debt exchange programme.
After the committee’s first day of sitting on Thursday, lasting for more than five hours, one of the members, Senyo Hosi shared the level of optimism with citi news
“It was close to a six-hour meeting crunching numbers with a lot of analytics. We think that we are getting close to firming up a recommendation for consideration by the Minister so let’s keep our fingers crossed, so we can share details, but I commend my colleagues who have sacrificed their time.”
The team was formed on Wednesday following a meeting between the two parties on how to address concerns relating to the domestic debt exchange programme.
The two groups have thus expressed commitments to finding an amicable solution to their differences as far as the domestic debt exchange programme is concerned.
The groups and other institutions have vehemently kicked against the inclusion of individual bondholders in the programme.
The groups in the past weeks have argued that the programme will have dire consequences on the individuals if it kicks off.
The deadline for signing up for the programme has been fiercely resisted by stakeholders and has been postponed by the government several times.
Senyo Hosi has said they are willing to work with Mr. Ofori-Atta to solve the problem surrounding the programme.
He had earlier remarked that the Finance Minister has been very cooperative in the interactions they have had with him.
“His initial approach to engaging individual bondholders was super dramatic. We are here together right now to work together to solve the problem for mother Ghana. That cooperation is great. He [Finance Minister] has been very reasonable and very cooperative I must say, so we will take it from there, it’s a friendly affair. Whatever it is, the only thing is to alleviate this impending pain for the average Ghanaian. This matter has become an eye-red matter,” Mr. Senyo said.
The presidential candidate for the Alliance for Revolutionary Change, Alan Kwadwo Kyerematen, has laid out a detailed plan to tackle illegal mining, commonly known as galamsey, with a focus on demobilising the equipment used in the activity.
Mr Kyerematen criticised the current government’s approach of seizing and burning excavators, calling it ineffective and short-sighted.
According to the former Trade Minister, the practice of burning equipment does not offer a long-term solution to the galamsey crisis.
He proposed a more strategic approach that involves the military in a systematic and sustainable demobilisation of mining machinery.
This, he believes, will better address the root of the problem without causing unnecessary destruction.
The demobilisation plan is part of Kyerematen’s broader 10-point blueprint to combat illegal mining.
A key aspect of this blueprint is a one-year nationwide ban on small-scale and community mining, which will provide the necessary time to introduce proper regulations and rehabilitate the damaged environment.
He has called for a shift in government policy, advocating for a more measured and impactful response to the galamsey issue, which continues to pose serious threats to Ghana’s land and water resources.
“Demobilisation of all machinery and equipment that are currently used in small-scale and community mining. Under the supervision of the military, if you demobilise equipment, you need to do three things- first, you need to keep them under inventory, two, you need to have them properly stored and three, you preserve them.”
“This practice of burning equipment doesn’t make any sense. And that is why the GTP (Great Transformational Plan) proposes that you demobilise, and inventorise them so that you know what you have. Otherwise, after one year, they will be out of use,” he stated.
Statesman Dr Nyaho Nyaho Tamakloe has called for spirited, commitment and endurance in the fight against corruption.
He said that despite the level of corruption, the quest to eliminate the canker was attainable and should attract the support of all.
Dr Tamakloe was speaking at the third edition of the Asogli Anti-Corruption forum and said fighting corruption need not be the responsibility of the government alone.
He called for strong, independent institutions which he said should be “properly resourced and encouraged to carry out their mandate without fear or favour,”
He said crucial entities such as the Office of the Special Prosecutor should be given the needed independence and support to function.
A call was made for the Right To Information law to be fully implemented.
Dr Tamakloe Said the government should adopt transparent processes in public procurement, budgeting and policy implementation, and commended anti-corruption agencies such as the Ghana Integrity Initiative for sustaining the fight.
The Statesman also said asset declaration laws should be made more effective in implementation,
“Leaders must lead by example. There must be a higher standard of ethical conduct for those in power, both within the government and the private sector,”
Dr Tamakloe emphasised the need to build a culture of accountability from the ground up, and to make effective, various platforms for whistle-blowing, which would protect those who fight corruption.”
Daniel Yao Dormelevo, former Auditor General turned anti-corruption campaigner also was a speaker at the event and called for a national transition from corruption to integrity.
“This can be achieved sooner or later if we fight corruption,” he said.
Mr Dormelevo went on to say that ethical and transformational leadership was required in establishing and sustaining a multi-faceted approach to the fight against corruption and called for the strengthening of anti-corruption laws.
He said laws to ensure proper lifestyle audits of public officials should also be affected.
“If we build a good system, we all will benefit from it,” he asserted.
Other speakers at the anti-corruption forum include Mensah Thompson and Eric Ahiafor, also known as anti-corruption campaigners, and all who helped expand the conversation surrounding corruption in the country.
The various speakers commended Togbe Afede XIV, the Agbogbomefia of Asogli for institutionalising the anti-corruption day celebration and hoped it would bear significantly on the national outlook.
Togbe Afede, in his remarks, spoke of the extended consequences of corruption and stated, “massive job losses,” and rising suicide rates in the country.
He said it therefore became crucial to work together as a nation against the corruption menace and to eschew tribalism and other forms of disunity which he said caused corruption to strive.
Togbe Afede said the Asogli State recognised the need to actively contribute to the fight, and thus the anti-corruption day celebration would feature permanently in the popular festival.
“The fight against corruption is very important and that’s why it has been made part of the Yam Festival,” he said.
Government has spent approximately GH¢30.4 million in implementing the Rental Assistance Scheme rolled out on January 31, 2023.
The Scheme has benefitted 2,336 individuals so far, Mr Kojo Oppong Nkrumah, the Minister of Works and Housing, announced this during the Minister’s news briefing in Accra.
Under the Scheme, the government makes an advance payment for applicants who are renewing, renting a room/apartment or a complete house. The applicant will, therefore, repay the monthly rent to match the tenure of the rent.
The briefing focused on government’s efforts to resolve the stalled housing projects, develop public public-private partnership framework with incentives to close the housing deficit, ensure sustainable financing for housing projects, fast-track the completion of affordable housing projects and secure and grow land banks.
The minister highlighted some of the priority affordable housing projects the Ministry had tackled to close the housing deficit in the country.
He mentioned the 8,000 housing units under the Pokuase-Afiaman Housing Project, 5,000 Saglemi Housing Project, of which 1,506 were partially completed, 342 units of houses under the Koforidua Affordable Housing Project, 1,904 housing units under the Tema Development Company (TDC), of which 1,072 completed, and the ongoing 609 housing units for public sector workers, which would be ready in October, this year, for distribution to interested applicants.
“This government remains steadfast in its commitment to providing decent, safe, secure and affordable housing for all its citizens,” Mr Oppong Nkrumah assured.
According to Population and Housing Census data, Ghana’s housing deficit has significantly decreased from 2.8 million in 2010 to 1.8 million in 2021, representing a 33 per cent reduction.