Individual bondholders sceptical about govt’s 48hr promise for coupon payments


Convenor of the Individual Bondholders Forum, Martin Kpebu is sceptical about government’s assurances to pay matured coupons on outstanding bonds within 48 hours.

The Finance Ministry in a statement dated March 14 urged bondholders to expect their matured coupons to hit their accounts within the next 48 hours.

But speaking on Eyewitness News on Citi FM, the convenor for the Individual Bondholders Forum, Martin Kpebu said it will be difficult for him to believe the words of the Ministry because this is not the first time they are getting such an assurance from the government that was unfulfilled.

“The last time they promised they were going to pay on March 13, I said it was just an empty promise, and true to my word they have failed to fulfil their own promise. So we will wait, and if they pay on Thursday [March 16], then we will believe because this is what Ofori-Atta and president Akufo-Addo have always been saying.”

Mr. Kpebu further accused the president of colluding with the Finance Minister, Ken Ofori-Atta to impoverish bondholders while they swim on the spoils of their investments through Databank.

“While we are suffering and cannot buy food, fuel, or pay school fees, the president and the Finance Minister have become very rich through Databank, and they have been promising to pay the outstanding bonds and keep missing their own deadlines.”

“We cannot take the government’s words, so we stated in our press statement that we have given the government a 48-hour ultimatum to pay the outstanding coupons otherwise we will escalate it to other forms such as picketing, demonstrations, and calling Ghanaians to join in because that is the only language Akufo-Addo understands,” Mr. Kpebu further stressed.




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