We are still paying interest on loans owed by our grandfathers - Stonebwoy cries

Wednesday, June 09, 2021 at 10:48 AM by G. Hamelo 2 min read

- Stonebwoy is worried about African governments borrowing and leaving debts to be settled by the younger generation

- He shared his concern about the issue on Twitter on Tuesday, June 8, 2021

- It is not known what triggered Stonebwoy's tweet

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Ghanaian artiste, Stonebwoy, has expressed his concern about the spate of borrowing by African governments.

In a tweet on Tuesday, June 8, 2021, he spoke about the current generation paying interest accrued on loans that the previous generation took from the West and other developed countries.

It is unknown why he sent that tweet especially because the message was posted at 2: 14 am.

"Already our generation is still paying interests owed to the foreign donors of loans our Great GrandFathers borrowed... #MoreYawa," reads the tweet by the star.

On May 19, 2021, YEN.com.gh reported that the Ministry of Finance in partnership with the European Investment Bank signed an agreement for the provision of a €170 million loan facility for the establishment of a new national bank.

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The new bank, the Development Bank Ghana (DBG), is an integral feature of the GH¢100 billion Ghana Cares ‘Obaatampa’ Project.

The Minister for Foreign Affairs and Regional Integration, Shirley Ayorkor Botchwey, signed on behalf of Ghana, with Dr. Werner Hoyer, President of EIB, signing on behalf of the Bank.

The €170 million loan facility, according to Dr. Hoyer, is the largest facility provided by the European Investment Bank for the establishment of a development bank in Africa or for any other project, for that matter, on the continent.

In other news, Ghanaian artiste, MzVee, has alleged that Richie Mensah's Lynx Entertainment asked her to pay for a vehicle originally given to her as a gift. Until a few years ago, the singer, born Vera Hamenoo-Kpeda, was signed to the label that is home to Kuami Eugene and KiDi.

In a new interview, the You Alone singer claimed unnamed executives of the label asked her to pay for the cost of a gifted vehicle when she decided to leave the music company.