Gov’t in search of transaction advisor

The government of Ghana has started searching for a transaction advisor for the $2.5 billion energy bond it intends issuing soon.

The shortlisted firm is expected to advise government for six months.

Government’s indebtedness to the energy sector has been cited as one major threat to its growth.

The issuance of an energy bond they believe will rescue the country from its power crisis.

Such debts, including others owed by BDC, has almost pushed some banks to the verge of collapse.

One of the affected institutions is Cal Bank.

The Executive Director, Philip Owiredu told Accra-based Starr FM, the debt servicing process must be effective to reduce the impact of the debt on banks and economy at large.

“The energy sector debt does not impact on the bank but the economy as a whole, so the earlier it is resolved the better,” he said.

However, this bond is expected to improve the financial strength of the State Owned Enterprises (SOEs) in the energy sector, the banks and other industry players.

Gov’t in search of transaction advisor

The government of Ghana has started searching for a transaction advisor for the $2.5 billion energy bond it intends issuing soon.

Enhance Your Pulse News Experience!

JOIN OUR PULSE COMMUNITY!

Recommended articles

Train accident photo posted on my social media pages is a photoshop - Peter Amewu

Court jails truck driver 6 months for causing Ghana's brand-new train accident

609 Ghanaians died in first 3 months of 2024 through road crashes - NRSA reveals

Joseph Addo files nomination to contest as NPP Parliamentary aspirant for La Dadekotopon

Dumsor: ECG board members reject PURC GH¢5.8m fine

Woman who claims to have been taken to another world by dwarfs shares experience

Organised Labour threatens to strike May 2 over Tier-2 pension arrears

Nana Addo assures he will prioritize the welfare of cocoa farmers

Truck driver arrested for allegedly causing train accident on Tema-Mpakadan railway line