News
Trafigura threatens to seize Ghana’s properties in South Africa over $111m debt
Trafigura’s Ghana Power Generation Company (GPGC) has petitioned Finance Minister Dr. Mohammed Amin Adam on outstanding arrears owed to it by the Government of Ghana.
GPCG in letter addressed to the Finance Minister and copied to the Attorney General and Minister of Justice Godfred Yeboah Dame, warned that it may be compelled to seize Ghana’s properties in South Africa and the United States of America if the government fails to pay an outstanding $111 million out of $134 million judgement debt it was awarded four years ago after Ghana abrogated a power purchase agreement.
A similar action was taken in August 2024, when Trafigura moved in to briefly seize Ghana’s Regina House in the United Kingdom for defaulting on a payment agreement.
The origins of this legal dispute trace back to a decision made on January 26, 2021, by a UK tribunal. The tribunal issued a decisive final award, concluding that the Ghanaian government had breached its contractual obligations under the power purchase agreement with GPGC.
This breach occurred when Ghana unilaterally terminated the agreement on February 18, 2018. The tribunal’s findings were damning, ruling that Ghana was liable to pay GPGC a staggering $134,348,661 as an early termination payment.
Government paid $23 million of the debt when the Regina House was seized with a balance of $111 million.
GPCG in its letter to the Finance Minister gave Ghana up to the end of this week to settle debt.
“We would nevertheless like to reiterate the message of our previous correspondence, that we would prefer not to take any further enforcement action and instead to resolve the matter amicably by fully executing the settlement agreement, as soon as possible, ideally within this week, and receiving payment in accordance with the agreed schedule,” it indicated.
Source: Citinewsroom.com
Minister for the Interior, Mubarak Mohammed Muntaka, has confirmed that former Chief Executive Officer of the Microfinance and Small Loans Centre (MASLOC), Sedina Tamakloe Attionu, is in prison and serving her jail term.
Speaking in an interview on Joy news, Mr. Muntaka dismissed claims that the former MASLOC boss was being held in a private location.
He said she has been in the custody of the state since she returned to Ghana.
“From the day Sedina came, she has been with us, and she’s serving her time,” he said.
The minister explained that the public is not usually told the specific prison where inmates, especially high-profile persons, are being held for security reasons.
He said even judges who sentence offenders do not necessarily know the specific prison where they are sent.
“If you want to visit her, you can write to the Prisons Service. They will talk to her, and if she is interested in you coming, she will let you come,” Mr. Muntaka stated.
According to him, disclosing the location of high-profile inmates could put their lives at risk, adding that some developed countries also keep such information confidential for security purposes.
His comments come amid public speculation over the whereabouts of Ms. Tamakloe Attionu following reports that she had returned to Ghana to begin serving her prison sentence.
By: Jacob Aggrey
The Western Regional Commander of the Ghana National Fire Service (GNFS), ACFO I Cecil Addo, has completed a familiarization tour of major corporate and industrial institutions across the Western Region to strengthen partnerships and enhance fire safety preparedness.
The tour covered key organizations including the Bank of Ghana, GOIL PLC, Ghanstock, Western Terminals, Zen Terminal, Keda Ceramics, Takoradi International Company (TICO), Volta River Authority (VRA), Harlequin Oil and Gas, and Western Serene Atlantic Hotel.
During the engagements, the Regional Commander encouraged management of the institutions to prioritize proactive fire prevention measures by incorporating strict safety protocols into their daily operations.
Discussions also focused on improving fire readiness and strengthening collaboration between GNFS and the corporate sector.
As part of the initiative, GNFS presented firefighting equipment, including Carbon Dioxide (CO2) and Dry Chemical Powder (DCP) extinguishers, as well as Fire Extinguishing Balls, to support workplace safety.
The institutions expressed appreciation for the outreach and pledged to support regular safety audits, joint emergency drills, and potential Corporate Social Responsibility (CSR) partnerships with the Service.
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