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Tag Archives: energy sector bond

Gov’t to pay 19% on 7-year energy bond

Ken Ofori-Atta - Finance Minister

Government has accepted some 2.4 billion cedis for the seven-year bond it issued to clear the energy sector debt. This represents the first of two bonds issued to raise 6 billion cedis. A statement on the issue which was copied to Citi Business News indicated that the bond also attracted an interest rate of 19 percent. Even though government was ...

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Banks demand expedited issuance of energy bond


Commercial banks are pleading with government to speed up processes to settle the energy sector debt. The banks had earlier bewailed that the debt is affecting their base rates. Government’s economic team is currently in a discussion with the International Monetary Fund (IMF) to come out with an appropriate mode to issue the 2.5 billion dollar energy bond to clear ...

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Investors upbeat about moves to clear energy sector debt                                                


Investors are optimistic government will be able to clear its huge energy sector debt within the next five years. They attribute this to the positive key indicators that are playing in the sector. This, however, comes at a time that majority of businesses are complaining about the high power charges in the country. President Akufo-Addo has also assured that government will ...

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Banks to be repaid from $ 2.4bn energy bond by end of August


Banks that are exposed to the energy sector debt should be receiving their due from the proceeds of the bond by the middle of this month [August]. It will follow the issuance of the 15 year energy bond to clear the 2.4 billion dollar debt, barring any last minute changes. According to the Managing Director of Cal Bank, Mr. Frank Adu ...

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Response to energy bond to determine investor confidence – Economist

Economist Dr. Lord Mensah

Economist, Dr. Lord Mensah has suggested that the response to government’s 15 year energy sector bond will determine the investor confidence in the Ghanaian economy. In his view, the interest to be charged by the investors would demonstrate the assurance that their investments will yield positive results. Government is currently seeking a transaction advisor for its energy bond to pay ...

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