March 15, 2023

Bolgatanga Central legislator, Isaac Adongo, has alleged most of government’s bonds are raised on off market rates.

He says the Finance Minister does not advertise the bonds but rather sells them on “donkomi”, increasing the interest rates as compared to what is on the capital market.

Appearing on Onua TV’s Maakye’ Friday, August 26, 2022, Mr. Adongo noted about 70% to 75% of bonds raised between 2017 and 2021 were not advertised.

He was describing how the Finance Minister, Kenneth Nana Yaw Ofori-Atta has “duped” the state with his firm, DataBank, and that of then Deputy Finance Minister, Charles Adu Boahen’s Black Star Brokerage which who have been financial advisors to the government.

Any amount borrowed therefore, the financial institutions have a share.

Watch him rant as he is hosted by Captain Smart on the show.

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