Senyo Hosi resigns as lead convener of IBF

Senyo Hosi resigns as lead convenor of IBF

After seven months of dedicated service as lead convener of the Individual Bondholders’ Forum (IBF), Senyo Hosi, has tendered his resignation effective July 31, 2023.

In a statement issued on Tuesday, July 25, 2023, Mr Hosi noted that for him, the past seven months have been a fulfilling journey, seeking to address what he believed was an economic injustice affecting the average Ghanaian and posing a significant risk to the nation’s economic recovery.

He notes that, the collective efforts of the IBF and the Individual Bondholders Association of Ghana (IBHAG) have yielded positive impacts, bringing relief to distressed homes and lives affected by the forceful introduction of the Domestic Debt Exchange programme (DDEP).

According to the Finance and Economic Analyst, while his time as the lead convener of the IBF came at a great cost to him and his family, he has no regrets.

“My service has come at great cost to my person, my relationships, business, and family but I have no regrets. I have served for no reward but for the settlement of an honest conviction. I have served despite not being a victim of the DDEP,” he remarked.

Working as a collective, the IBF and IBHAG achieved the feat of improved economic terms for their membership who subscribed to the DDEP reducing their economic losses on bond investments from 50% to revised levels ranging from 19% to 33%.

Moreover, the IBF and IBHAG managed to secure substantial payments for those who opted not to participate in the DDEP, preserving 100% of their investments at par yields.

“While I am proud of our collective efforts, I am unable to continue to commit the time and resources required to effectively serve. I therefore wish to humbly wish to serve notice of my resignation as convenor and member effective 31st July 2023,” he noted.

“I am grateful to you, the media, government officials and the IBF and IBHAG general membership for
their support,” he added.