It is very interesting to have an Intellectually Lame opposition which cannot even differentiate between Domestic Bond and International Bond.
It is equally pathetic to have Minority Lawmakers who couldn’t properly interpret and comprehend Article 181 (5) of the 1992 Constitution to support their arguments on international economic/business transaction.
Yes Franklin Templeton is a US Registered Investment Firm.
The $ 2.25bn bond was issued on our local stock market which does not need Parliamentary approval.
Parliamentary approval would have become necessary if the $2.25bn bond was issued on the US Stock Market or any other international stock market.
The Minority MPs are now telling us that if a Foreign Registered company purchase bonds on Ghana’s domestic market, it implies that Ghana is trading internationally on our own local market.
if Alhaji Mahama is selling his Dead Goat at the Bole Market and a Chinese Registered Company purchased the Dead Goat, according to the NDC it is an International business transaction for Alhaji Mahama even though his Dead Goat was purchased from the Bole Market. This is very lame economic analysis by the Minority MPs.
Hon. Ato Forson need to educate himself very well about the difference between Domestic Business Transaction and International Business Transaction. The $ 2.25bn bond was not issued on the USA Market purchased by USA Registered Company but rather it was issued Domestically purchased by USA Registered Company.
It means that Ghana has transact business domestically but the Franklin Templeton has transact business internationally on Ghana’s market.
The allegation of conflict of interest by the Minority MPs against the Finance Minister is very lameness and Dead Goat in Character.
Is Trevor Trefgarne the CEO or Board Chairman or the Founder or Co-Founder or Executive Director for the Franklin Templeton, the USA Registered Company? BIG NO. He is just Non-Executive Director. Maybe Ato Forson does not know the difference between Executive Director and Non-Executive Director of a Registered Company.
Is Ken Ofori-Atta the owner or member of Franklin Templeton? Big NO. So where is the Conflict of interest.
Now per NDC logic, it is only companies without Ghanaian employees that are qualify to purchase bonds issued by Ghana Government.
Since 2015, Franklin Templeton having Trevor Trefgarne as Non-Executive Director purchased bonds issued by the NDC Government, now Ghanaians want to know from the Minority MPs, if there was any form of conflict of interest and conspiracy between Seth Terkper, Ato Forson, Trevor Trefgarne and Ken Ofori-Atta to enriched themselves at the detriment of the Nation within that period?
Ghanaians deserve better opposition so we are praying that God will help Hon. Ato Forson to finish his ACCA Final level Exams so that he can begin to come up with Chartered Analysis instead of his student analysis which is very lame and sickening.
Razak Kojo Opoku
(Founder & President)