Sunday , 29 January 2023

Investor Haircut: Government now DKM

A staunch member of the governing New Patriotic Party (NPP) in the Upper East Region Jonathan Atuah has described Government as the new DKM, a defunct Ponzi scheme wondering whom he can trust with his investment.

Mr Atuah, who contested for the office of Upper East Youth Organiser of the NPP unsuccessfully, is questioning how things have become this dire – Government’s inability to pay investor funds just like the now defunct microfinance company, DKM.

“Government has turn to DKM. So who can I trust with my investment. Eeeiiii why?” He asked.

Mr Atuah’s comments come on the hills of an announcement of haircut for investors by Finance Minister Ken Ofori-Atta after news of many investors being  unable to access their investments in full and a leaked video of the Governor of the Bank of Ghana talking about haircuts after the President had assured Ghanaians that there was not going to be a haircut.

Finance Minister Ken Ofori-Atta has however said holders of treasury bills (T-bills) will not suffer any haircuts.

“Treasury bills are completely exempted and all holders will be paid the full value of their investments on maturity,” he said, adding that “there will be no haircut on the principal of bonds. Individual holders of bonds will not be affected.”, he disclosed.

 The announcement has been met with criticism from the Minority and organized labour.

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