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Tag Archives: ESLA

ESLA pays GH¢500m interest to investors

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Managers of the ESLA bond, have paid an estimated 228 million cedis as first gross interest payments to investors who bought into the 7 year bond of the sixbillion cedis energy sector bond. The bond, which formed part of the first tranche of the issuance, attracted an interest rate of 19 percent. A statement from ESLA and copied to Citi ...

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Industry intensifies pressure to get 15% petroleum tax scrapped

Fuel pump nozzles are pictured at Helios petrol station in Almaty

Analysts have intensified appeals for government to scrap the Special Petroleum Tax on petroleum products. They argue this will give more meaning to attempts to reduce the plight of consumers following rising global oil prices. The comments follow a recent NPA announcement of a seventy percent reduction in the price recovery and stabilization levy calculated on petroleum prices. The price ...

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Finance Ministry dismisses Minority’s claims on energy bond

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The Ministry of Finance has reacted to what it describes as unsubstantiated claims by the Minority in Parliament over the energy bond. According to the Ministry, the arguments put forward by the side do not reflect the actual situation. The Minority on Wednesday held a press conference where it criticized the below 6 billion cedis yield of the bond. It ...

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Is the ESLA considered as a bailout for Banks in Ghana? [Article]

bond

Preamble: As noted in my recent article titled “Poor credit practices leading to high NPLs in Ghana”, I concluded that the primary cause of default for energy related SOE and BDCs debts is due to the banks irresponsible credit decision. In this article, I will like to expand on the above referenced article and demonstrate to you that the passage of ...

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Energy bond auction ends today

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Government is expected to conclude the auctioning of the energy bond Friday, November 3, 2017; barring any last minute changes. Managers of the bond had to extend the auction for the bond after they failed to raise the 6 billion cedis expected. The 7 year bond made the 2.4 billion cedi mark after auctioning closed on Friday [October 27, 2017]. ...

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Investor confidence for energy bond positive

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Lead managers of the energy bond have described as positive, investor confidence expressed at the road shows conducted ahead of the bond issuance. Government on Monday, October 23, 2017 concluded the two road shows for the energy bond to clear the 2.5billion dollar energy sector debt. The representatives of Fidelity Bank and Standard Chartered Bank; the lead managers for the ...

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Roadshow for GH¢10bn energy bond starts today

Charles Adu Boahen - Deputy Finance Minister

Government will today (October 19, 2017) embark on a roadshow for the energy sector bond to be used to clear the energy sector debt. Today’s roadshow, to be carried out in London, is the first of two roadshows to be conducted ahead of the issuing of the bond.. The bond is also expected to be issued in tranches with the ...

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15 year energy bond timely for banks’ rising NPLs – CAL Bank MD

Mr. Frank B .Adu Jnr - MD of Cal Bank

Banks are optimistic of significant improvement in their non-performing loan portfolios as government initiates moves to clear all outstanding debts owed them. The assurance comes on the back of government’s plan to raise bonds to clear the debts owed in the energy sector. The Vice President, Dr. Bawumia at a meeting in Washington last week announced that the government will ...

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