Senyo Hosi (Managing Trustee - Ghana Covid-19 private sector fund)
Senyo Hosi Convener of Individual Bondholders Group

Convenor of the Individual Bondholders Forum, Senyo Hosi, has urged government to lead by example as it calls on the general public to receive haircuts.

According to him, the main opposition to the government’s second round of domestic debt restructuring is due to the fact that since the first round the government has done nothing to address concerns about its mammoth size, nor has it reduced its expenditure as suggested by labour.

He said the government’s refusal to impose on itself the same austerity measures it is imposing on Ghanaians has largely fuelled the mistrust and opposition to the government’s latest policy which he believes is particularly favourable to pension funds.

Speaking on JoyNews’ PM Express, Senyo Hosi said it was about time government started heeding to the demands of the general public in order to soften the strong opposition to its policies and projects.

“For pension funds I think that they have to sit down and the president should listen small on this kind matter. There’s a theme going on that ‘Mr. President, we’re not seeing you live by example. Your government is also not being seen to be sharing in the pains that Ghanaians are going through.’ One of our members called me and he was livid, angry, what is his problem?

“He has gone to sit down, he’s flying to South Africa, he’s sitting down in the plane, and here are junior members of SOEs sitting in business class to South Africa, less than six hours. Plenty of them, sitting in business class, what’s wrong with you?

“You owe people you can’t pay, but you’re sitting there and then you’re flaunting spending their money in their face. It’s a bit insulting. These are petty petty things. If you pass a rule today, just like most corporates do, I’m telling you, go to the British Embassy, you’ll see what flights the staff there fly. Most of them fly economy going back to London but Ghana people who fly economy, middle officers, everybody business class.”

He has urged the president to issue a directive preventing government officials from flying business class for trips six hours and below.


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“I mean, show something. The president should issue a directive this business-class nonsense must stop. The truth of the matter is most of these people sitting there when before government they couldn’t even spell business class, but every day you see them and that is it.

“You know it’s ok, you’re going to America, plenty of hours, okay. You’re going somewhere less than six hours, six hours or less, a directive, everybody including ministers, everybody has to fly economy. When people start seeing signs like these everybody goes ok you’re also trying something,” he said.