Eugenia Basheer, Managing Director of Tesah Capital, has said the impact of the Domestic Debt Exchange Programme (DDEP) has forced financial houses to rethink investment schemes and strategies for investors.

Before the DDEP, she said the majority of the financial houses and institutions primarily focused on investing in government bonds because it was risk-free.

She added that the restructuring of domestic debts significantly impacted investors' confidence in financial houses and investment schemes.

However, the finance houses have learnt their lessons and are exploring other investment schemes to maximise returns for their investors.

"So, we have restructured our debts; investors have had a raw deal and have lost their money. People's lifestyles have been negatively affected, and maybe I get passionate because I have had the opportunity to meet them. In spite of that, we have learnt some lessons, and it has forced us to innovate," Eugenia Basheer stated.

"We all got comfortable with Treasury bills and government bonds because we all thought they were safe. Right now, we are all being forced to identify the alternatives for investors," she said.

The Government of Ghana pursued the DDEP as an attempt to restructure GH¢137 billion of domestic bonds with fresh bonds as the government was struggling to service its debts.

The programme received 80% participation in eligible bonds by investors as the Ministry of Finance closed the programme in February last year.

Mr. Ekow Afedzie, former Managing Director of the Ghana Stock Exchange, in his submission, said that despite the impact of the DDEP, investors were still investing.

However, investors have developed an interest in other investment schemes, such as collective funds and corporate bonds.

He said that although the stock market was currently facing problems, he expected it to "pick up" in the coming months, as this progress will rejuvenate interest in longer-term instruments among investors.