{"id":187579,"date":"2024-06-06T14:38:21","date_gmt":"2024-06-06T14:38:21","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/06\/06\/i-wont-invest-in-ghana-again-ddep-taught-me-a-lesson-cdds-asiedu-sarpong\/"},"modified":"2024-06-06T14:38:21","modified_gmt":"2024-06-06T14:38:21","slug":"i-wont-invest-in-ghana-again-ddep-taught-me-a-lesson-cdds-asiedu-sarpong","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/06\/06\/i-wont-invest-in-ghana-again-ddep-taught-me-a-lesson-cdds-asiedu-sarpong\/","title":{"rendered":"I won\u2019t invest in Ghana again, DDEP taught me a lesson \u2013 CDD\u2019s Asiedu Sarpong \u2013"},"content":{"rendered":"<p><\/p>\n<div>\n<p>The former Minister for Finance, Ken Ofori-Atta launched Ghana\u2019s Domestic Debt Exchange Programme with the hope of restoring the nation\u2019s capacity to service its throat cutting overwhelming debt.<\/p>\n<p>At the launch of the program, former Finance Minister, Ken Ofori Atta said the objective of the Programme is \u201cto invite holders of domestic debt to voluntarily exchange approximately GH\u00a2137 billion of the domestic notes and bonds of the Republic, including E.S.L.A. and Daakye bonds, for a package of New Bonds to be issued by the Republic.\u201d<\/p>\n<p>However, Dr. Kwame Asiedu Sarpong, a Fellow at the Center for Democratic Development (CDD-Ghana) and a pharmacist, expressed concerns over how the government\u2019s Domestic Debt Exchange program has affected his investment in the country.<\/p>\n<p>In an interview with Kumasi-based Abusua 96.5FM with Kojo Marfo, Dr. Sarpong explained that the Domestic Debt Exchange program resulted in him losing a staggering \u00a319,000.<\/p>\n<p>He said \u201cI invested \u00a341,000 and lost more than \u00a319,000. I received \u00a322,000, which is 54% of my initial \u00a341,000 investment,\u201d he cried out.<\/p>\n<p>Meanwhile, Ken Ofori Atta at the launch reiterated the Government\u2019s assurances that there will be no haircut on the principal of bonds and Treasury Bills, against rumours that investors are well on their way to losing their investments in a debt restructuring drive to be soon undertaken by the Government.<\/p>\n<p>Dr. Sarpong also noted that the depreciation of the Ghanaian cedi further impacted his investment.<\/p>\n<p>\u201cAt the time I made the investment, \u00a31 was just around 8-9 cedis, but when the restructuring occurred, and I lost the money, the pound was trading at GH\u00a214.8, resulting in a \u00a319,000 loss,\u201d he stressed.<\/p>\n<p><strong>Vows to Avoid Future Investments in Ghana<\/strong><\/p>\n<p>Reflecting on his experience, Dr. Asiedu Sarpong vowed not to invest in Ghana again. \u201cWith my experience and loss of money, I won\u2019t invest in Ghana again,\u201d he emphasized.<\/p>\n<p><strong>Criticism of Economic Management and Political Leadership<\/strong><\/p>\n<p>Dr. Asiedu Sarpong also criticized the head of the Economic Management team and the Presidential candidate for the ruling New Patriotic Party, stating, \u201cWhile our economy is in turmoil, the man in charge is searching for the steering wheel.\u201d<\/p>\n<p><strong>Source:\u00a0<\/strong>kasapafmonline.com<\/p>\n<p><!-- CONTENT END 1 --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The former Minister for Finance, Ken Ofori-Atta launched Ghana\u2019s Domestic Debt Exchange Programme with the hope of restoring the nation\u2019s capacity to service its throat cutting overwhelming debt. At the launch of the program, former Finance Minister, Ken Ofori Atta said the objective of the Programme is \u201cto invite holders of domestic debt to voluntarily [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":187580,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"class_list":["post-187579","post","type-post","status-publish","format-standard","has-post-thumbnail","category-sports"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>I won\u2019t invest in Ghana again, DDEP taught me a lesson \u2013 CDD\u2019s Asiedu Sarpong \u2013 - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2024\/06\/06\/i-wont-invest-in-ghana-again-ddep-taught-me-a-lesson-cdds-asiedu-sarpong\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"I won\u2019t invest in Ghana again, DDEP taught me a lesson \u2013 CDD\u2019s Asiedu Sarpong \u2013 - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"The former Minister for Finance, Ken Ofori-Atta launched Ghana\u2019s Domestic Debt Exchange Programme with the hope of restoring the nation\u2019s capacity to service its throat cutting overwhelming debt. 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