We’ll fight to ensure full payment of our monies – Aggrieved individual bondholders


The Coalition of Individual Bondholders Group made up of the Ghana Individual Bondholders’ Forum and Individual Bond Holders Association of Ghana (IBHAG) is calling out the Securities and  Exchange Commission (SEC) as well as the Ghana Stock Exchange (GSE) for the “loud silence” over the non-payment of matured coupons and principals by government.

Government had agreed, in the aftermath of the Domestic Debt Exchange Programme (DDEP), to resume payment of coupons to holders who opted out of the Programme.

But on Monday, March 13, the date slated for the payments, there was no show.

The Coalition said the Ghana Fixed Income Market of GSE has failed to enforce basic rules of disclosure required by issuers.

The little confidence remaining in the markets as a result of assurances from the Ministry of Finance is fading away under the full watch of the very institutions set up to protect it,” the Coalition said in a statement on Tuesday, March 14.

It, therefore, gave the Finance Ministry a 48-hour ultimatum to pay all matured principals and outstanding coupons due existing bonds.

The warning comes after pensioner bondholders also gave government same ultimatum.

The Coalition has served notice that “fight we will”.

We are giving a 48hour ultimatum to the Ministry of Finance to honour its word to pay all matured principal and outstanding coupons due on the existing bonds issued by the Government of Ghana.

We call on the Securities and Exchange Commission and the Ghana Stock Exchange to enforce the rules of full disclosure required by all issuers including the Government of Ghana.

We will fight to ensure the full payment of our monies and the preservation of our Securities Markets for the future generation.”


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