Pensioner bondholders are worse off as minister keeps her savings at home - Edudzi Tameklo

A private legal practitioner and a member of the legal team of the National Democratic Congress (NDC), Godwin Edudzi Tameklo, has described as irony, the situation pensioner bondholders find themselves in while a government minister opts to keep her savings safe at home.

The legal practitioner said these in anticipation that the government will address the concerns of the Pensioner Bondholders in its 2023 Mid-Years Budget Review.

Making an appearance on TV3’s New Day, Edudzi Tameklo highlighted the situation where pensioner bondholders, who had invested in government instruments, are facing hardships because the government cannot pay them their monies.

But the embattled former Minister for Sanitation and Water Resources, Cecilia Dapaah, who is also a pensioner decided to keep her money safe at home instead of investing in government securities.

The legal practitioner expressed concerns over the irony of the situation, where those who opted to invest responsibly and maintain their resources for the future, are now worse off due to the government's actions.

“Even more serious is the fact that a minister of state had decided to keep her monies at home. Pensioner bondholders decided to invest in the government’s instruments. The government incorporated Daakye PLC to securiterise GETfund receivables and those monies people decided to go for those bonds. Today, the government has defaulted on those bondholders who are having to picket.

“But you see Madam Cecilia Dapaah who is also a pensioner because she’s passed 60 decided to keep her money home and not invest in government security, you see the irony.

“So that she will keep her monies safe at home while pensioner bondholders who decided to keep their lifestyle well, maintain their resources for future use for their BPs, arthritis, and what have your medication, are now having to be worse off,” he said.

According to him, the current government is the worse since the beginning of the fourth republic.

He expressed his disappointment in the administration's lack of effectiveness and said that they had become less useful to the citizens over time.

“So, when you look at the dynamics, we have had to deal with the most useless administration since 1992.
“And I use the word useless advisedly, in the sense that they have been becoming less useful to the people of this country. Having gotten so many financial resources that any administration,” he added.

NW/OGB
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