We’ll stop picketing when… – Bondholders forum

For the fourth consecutive week, the locked-up investment bondholders’ forum has picketed the Finance Ministry, demanding the release of their funds.

Despite their persistent requests, they have yet to meet with the Finance Minister, Dr Mohammed Amin Adam, or his deputies to present their demands.

The group is calling on the Bank of Ghana (BoG) and the Finance Ministry to declare NDK Financial Services, Bond Savings and Loans, SIC Life Savings and Loans, and SDC Financial Services as insolvent and revoke their licenses due to their failure to release the bondholders’ funds.

Speaking to JoyNews’ Kenneth Gyasi during the picketing on Wednesday, June 26, the group leader, Dr. Adu Anane Antwi, stated that they have not received any indication from the Finance Ministry that the necessary financial provisions have been made.

He explained that the bondholders will stop picketing once the Finance Ministry secures the release of their funds.“As soon as the Ministry comes up to tell us that they have made an appropriate financial provision that will enable the Bank of Ghana to revoke the licenses of NDK Financial Services, SIC Life Savings and Loans, SDC Financial Services and Bond Savings and Loans, we will stop the picketing,” he said.

Dr Antwi clarified that the group will continue their protest until the BoG takes action.He also said that the government should be able to make the necessary financial provisions without any issues, especially since the Finance Minister has claimed that Ghana saved over $8 billion from external debt restructuring.

“Even the fact that the Minister has said Ghana has saved about over $8 billion from the external debt restructuring so at least, money is coming. Government must pay and use part of this saving to pay every locked-up fund in this market.”He also emphasise the need for the government to stabilise the financial market by using the savings to pay all locked-up funds.

Other members of the group also expressed their frustrations, stating that their concerns have not been addressed by the government and urging the authorities to take their issues seriously.