Chief Executive Officer of Dalex Finance, Ken Thompson
Ken Thompson, the CEO of Dalex Finance, has described decision of government to invest $250 million of the $ 1 billion Eurobond with the United Bank of Africa as unfair.
New Patriotic Party’s presidential running mate, Dr. Mahamudu Bawumia, revealed this arrangement, who charged government of averting $250 million of the total proceeds from Ghana’s $ 1 billion Eurobond it issued last year to a private account at United Bank of Africa.
According to New Patriotic Party’s presidential running mate, the confirmation of the Finance Ministry that it transferred $250 million of the proceeds from the $1 billion Euroband was an admission of incompetence and weakness.
Dr. Mahamudu Bawumia continued that justification of the Seth Terkper to the transaction confirmed that those in charge of finances in Ghana did not know what they are doing, and asked Seth Terkper, to resign from his position as he broke regulations of the Bank of Ghana.
The Finance Minister refused Dr. Bawumia’s claim in a statement. He said $250 million was safe and had already started bearing interest.
However, this course of action taken by the Finance Ministry has remained mysterious to Mr. Thompson who said they have basically given UBA money to lend it back to them at a top rate.
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