Convenor for the Ghana Individual Bondholders Forum, Senyo Hosi, has announced his decision to step down from his position effective July 31, 2023.
In his resignation letter dated July 22, 2023, Mr Hosi noted that serving in such capacity for the past seven months has been “one of the most fulfilling in my life” as he had the opportunity “to correct what I believe was an economic injustice to the average Ghanaian and a major risk to the recovery of the Ghanaian economy.”
Mr Hosi noted that he is content with fighting for the welfare of individual bond holders following the introduction of the Domestic Debt Exchange programme (DDEP) meant to enable the government to restructure its debt to avert a default.
According to Mr Hosi, his time as convenor has enabled him to understand the nuances of people management and public policy making better.
“It has been a period of learning, service, fulfilment, and pain,” he added.
Despite the pros, he highlighted some challenges that came with his position. He noted that being in that role cost him “relationships, business and family” yet “I have no regrets.”
For Mr Hosi, he remains content for receiving no reward during his time as convener since he holds “honest conviction” as his compensation.
“I have served despite not being a victim of the DDEP. Together we have shown the capacity and value in working as a collective. We have shown that if Ghanaians collectively, committedly, and fearlessly work towards a common good, we can shape right the path of policy and transform our country for good. Truly, evil triumphs when good people do nothing,” he added.
During his reign, Mr Hosi who led a collective work improved the economic terms for membership who wished to subscribe to the DDEP by reducing their economic loss from 50% to levels ranging from 19% to 33% in the revised offers.
“We have also secured billions of payments to those who opted not to participate and protect 100% of their investments at par yields,” he continued.
Despite being proud of the collective efforts, Mr Hosi says he is 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 wrote.
Meanwhile, Mr Senyo Hosi has extended his appreciation to the media, government officials and the Individual Bondholders Forum (IBF) and Individual Bondholders Association of Ghana (IBHAG) general membership for their support.