General News Fri, 10 Nov 2017
Minority spokesperson on Communications, Alhaji A.B.A Fuseini has taken the vice president, Dr. Mahamudu Bawumia to the cleaners for “exhibiting gross incompetence in government”.According to him, Ghana’s economy under the self-styled ‘economic wizkid’ has taken a nosedive which in his opinion is affecting the socio-economic conditions in the country.
Mr. Fuseini who is also the Member of Parliament for Sagnarigu in the Northern region made the comment when commenting on what he described as failed ESLA bond issue.
The Minority in Parliament is accusing the Akufo-Addo led government of inflating the cost in issuing the ESLA bond which they claim has failed.
They claim a whopping GHC177,241,976 million was expended in issuing the ¢6 billion targeted bond.
This was after government through ESLA raised ¢4.7 billion cedis of the bond, ¢1.45 billion short of the target.
The Minority at a news conference Wednesday berated government for opting to use ESLA PLC vehicle to issue the bond when it ought to have used the sovereign guarantee – an allegation government has vehemently denied.
But on Asempa FM’s Ekosii Sen programme Thursday, Alhaji A.B.A Fuseini said Dr. Bawumia as head of the economic management team should be blamed for the fiasco.
He indicated that, Ghana is now a laughing stock in the eyes of the investors due to the “incompetence” of the vice president.
“It is unprecedented in our country’s history for such a humiliating performance to be put up by the economic management team led by Dr. Bawumia” he fumed.
The Minority Spokesperson on Communications stated that all bonds issued by Ghana irrespective of the circumstance have always been oversubscribed.
“Ghana has an impressed record in the eyes of the international investor community when it comes t o transactions such as these but these people have come to lower the bar,” he bemoaned.
The National Democratic Congress (NDC) MP said the Bawumia led economic management team did not have “elementary information on how to package the bond to make it attractive”.
“This was the man who was shouting incompetence all over the place, today the economy is lose diving, government cannot meet its revenue target. Which investor seeing this shoddy performance will want to put his money in such a frivolous transaction” he maintained.
Alhaji A.B.A Fuseini said Dr. Bawumia at best can be likened to a hernia infected testicles.
“The testicle that would degenerate into hernia can be spotted the very day it is seen. If you [Bawumia] can carry your load, don’t blame it on your head pan”. If you send rotten cassava to the market, it will be returned to you. The transaction from the onset was doomed to fail,” he observed.