Former Deputy Finance Minister Cassiel Ato Forson has said it is unusual  for a bond to be issued and closed within a day contrary to the normal practice of a minimum of three days.
According to the Former Deputy Finance Minister Cassiel Ato Forson, the  Director at Franklyn Templeton, Mr Trevor G. Trefgarne, bought 95% of the bond, is also a Director at Enterprise Group Limited, a company,  which Ghana’s Finance Minister Ken Ofori-Atta is co-founder, thus, raising issues of transparency, conflict of interest and suspicion.
Speaking on Class FM, Former Deputy Finance Minister Cassiel Ato Forson and the minority in Parliament are of the view that, the current Finance Minister, Ken Ofori-Atta “cooked†the bond issuance for his “friend†and “relativeâ€.
He said even though Franklyn Templeton has taken part in previous bond issues in Ghana, it had never bought such a significant amount of any single bond in the past.
“Franklyn Templeton never took 95% in any single bond issuance; Franklyn Templeton never came to Ghana with a 2 billion investment in one single day. That is the difference. There have never been in the history of Ghana that we’ve issued a book-building approach bond where Franklyn Templeton comes in in the morning, the book is opened in the morning and then in the evening it’s closed, it’s normally done in a minimum of three days. Why was this cooked for his friend; why was it cooked for a relative and someone that you have a business relationship with?â€Â
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