Government is seeking to raise 17.4 billion cedis in the third quarter of this year from the securities market. The cash accrued will be used to rollover maturities as well as to take care of government financing requirement. A statement from the Bank of Ghana stated that about 14 million cedis of the total will … Read more
The Finance Minister, Ken Ofori-Atta, has said critics of the cedi denominated US$2.25 billion bond risk scuttling government’s efforts at restoring the economy to a path of growth, following the devastating setbacks economic recovery efforts suffered in 2016. The minister came under heavy criticism from members of the opposition NDC, who accuse him of favouring … Read more
The ‘$2.25bn’ Templeton bond saga is a classic example of ‘PR motivated by political spin’ gone bad. I am a strong believer in institutional policy making and cringe when politicians seek to overwhelm the technical space of public relations. The art of PR makes one minded that your public is not restricted to your customers … Read more
The United States has rekindled interest in ultra long-term debt, including possibly a rare century bond, to lock in the current very low borrowing rates. “I think it’s something that we should seriously look at,” newly-installed US Treasury Secretary Steven Mnuchin said on Thursday. He said he already has talked to Treasury staff about the … Read more
The government of Ghana is projecting to raise some GHC17,400.00 million in the first quarter of 2017 (January to March) in bonds and notes to rollover forecast maturities of bond and notes amounting to GHC15,504.43 million. The remaining amount of GHC1,895.56 which is fresh issuance will be used to meet the governments financing needs and … Read more
Government has raised a total of 96.4 million dollars in its first local dollar denominated bond at a rate of 6.0 percent. Total bids were 99.6 million dollars but government accepted 96.4 million dollars, above its original target of 50 million dollars. By this, the cost of the bond is lower compared to government’s last … Read more
Information gathered by Citi Business News indicates that government has commenced meetings with local investors to raise its first dollar denominated bond locally. The Finance Minister, Seth Terkper met the investors in Accra last Friday to convince them invest in government’s upcoming $100 million bond this month. The bond, if successful will be used to … Read more