Dr. Samuel Quaye, a retired medical practitioner, says he regrets investing his life savings in Ghana government bonds.
“My biggest regret in life is to have invested my life savings in gov’t bonds,” he reiterated.
On Monday, February 13, 2023, he vented his rage during an interview with Accra-based Joy FM.
According to him, he currently has failed health, and he requires urgent funds to facilitate the medical help he needs.
His reasons for investing in government bonds were to raise extra cash to facilitate the medical help he needed when his matured principal was paid, plus interest. Dr. Quaye says his hopes have been dashed due to the Ghana government’s decision to undertake a Domestic Debt Exchange Programme (DDEP).
“I made a big mistake buying bonds. I am regretting it. I know I had no alternative then, because for such an amount I couldn’t keep it in my house. That is why I invested it. We are living in a world where you cannot save your money at home. But now, I think I should have invested my money outside the country,” he stated.
The retired Medical Doctor is one of the thousands of individual pension bondholders who will be affected by the government’s ongoing DDEP.
On Monday, February 13, 2023, the pensioners protested their inclusion in the programme at the Finance Ministry.
