The Individual Bondholders Forum (IBF) on Thursday, January 26, petitioned Togbe Afede XIV, the Agbogbomefia of the Asogli State, to help exempt them from the Domestic Debt Exchange Programme (DDEP).

According to the group, the issue is of great concern to them and their livelihoods. 

The Convener of the Individual Bondholders Forum, Senyo Hosi thus asked the venerable chief to assist them. 

“Togbe the matter is an eye red matter and for someone who has led the capital market and being one of the players who birthed the capital market, besides your royal place as the Agbogbomefia of the Asogli State, you are a pioneer in this industry, I do not want to believe this is your voice and the destination you assured us when your voice was heard back then.

“So we are here to petition your office, to petition you as an individual and the state of Asogli not to sit by and watch the lives of 6.5 million people devastated and subjected to shackles of penury. 

“So our plea here is very simple, the steps being taken by the government are unsustainable and very unnecessary.”

The Individual Bondholders Forum are demanding the complete exclusion of its members from the Domestic Debt Exchange Programme. 

They have stated that their inclusion will destroy household confidence in Ghana’s financial system and securities market.

Meanwhile, the Individual bondholders also suggested that the government review the Free SHS Programme to make it more efficient through effective targeting and allowing parents who can pay to do so.

According to the group, “beneficiaries should be students that patronise Senior High Schools in their communities whilst other students should pay for boarding.

“However, the government can pay for students who do not have Senior Secondary schools in their communities.”

The group stated that divesting the 17 non-performing SOEs and reviewing the free SHS alone will provide the government with two billion cedis.

The group also urged the government to maintain the 2022 capital expenditure level by reducing the non–ABFA MDA and foreign finance Capex provisions by 50% which they claim will provide the 10.7 billion Ghana Cedis.