News
Road minister vows to retrieve $30m from foreign contractor for no work done
The Minister of Roads and Highways, Mr. Governs Kwame Agbodza, has registered his displeasure about what he describes as unfair and lopsided contract terms involving a foreign contractor who was paid $30 million for road works after no work done.
The Minister during at interview at Joy fm, a local radio station in Ghana said the contract in question was signed under a suppliers’ credit agreement supported by the Indian Exim Bank.
He noted that such agreements usually allow foreign companies to bring in their own contractors and resources, but expressed concern about the conditions tied to the deal.
According to him, Ghana paid about 20 percent of the contract sum as mobilization to the contractor.
However, he claimed that even on the day a public ceremony was held to mark the start of work, some of the equipment on site did not belong to the contractor, raising concerns about their readiness.
Mr. Agbodza explained that under the agreement, if the contractor raised a second payment request and the government failed to pay within a specified time, the contractor could legally terminate the contract and leave with the funds already paid.
“This particular contract was written in such a way that we paid $30 million, but no work has been done so far. If they do not work up to that value, we will have to get our money back. No amount of meetings or conferences can change that” he said.
The Minister emphasized that while Ghana often entered into turnkey agreements due to limited financial resources, care must be taken to protect the country’s interests in such deals.
He called on professionals involved in the contract process, including lawyers and engineers, to uphold national interest and ensure that agreements signed are fair and beneficial to the country.
Mr. Agbodza stressed that the government would explore all legal means to either recover the funds or compel the contractor to deliver work equivalent to the amount paid.
By: Jacob Aggrey
News
Media reports claiming Cecilia Dapaah is cleared by FBI are false – OSP
The Office of the Special Prosecutor (OSP) has dismissed media reports suggesting that former Sanitation Minister, Cecilia Abena Dapaah, has been cleared of corruption by the Federal Bureau of Investigation (FBI).
In a statement, the OSP said its attention had been drawn to several misleading publications which claimed that the FBI “found no evidence of corruption” or that Mrs. Dapaah “had been cleared.”
The office stressed that these reports were false and a misrepresentation of its Half-Yearly Report.
According to the OSP, the report stated that no direct and immediate evidence of corruption had been found, a legal standard that is different from saying there was “no evidence” or that the former minister had been cleared.
The OSP explained that the case was earlier referred to the Economic and Organised Crime Office (EOCO) after investigations revealed strong signs of suspected money laundering and structuring, which fall under EOCO’s mandate.
However, the previous leadership of EOCO failed to act and returned the docket.
The new leadership has since requested and received the docket again.
The OSP urged the media to report with accuracy and remain faithful to official documents, stressing that responsible communication is necessary on matters of high national interest.
By: Jacob Aggrey
News
Government Pays GH¢9.7 Billion Coupon Under the Domestic Debt Exchange Programme (DDEP)
The Government of Ghana has paid GH¢9.7 billion as part of its debt obligations under the Domestic Debt Exchange Programme (DDEP).
The Minister of Finance, Dr. Cassiel Ato Forson said the payment amounted to GH¢9,698,815,220.17.
This brings the total payments made under the programme this year alone to GH¢19.4 billion.
According to the minister in a facebook post, the payment shows government’s commitment to honouring agreements made under the DDEP and is expected to boost investor confidence in the economy.
He stated that government has also created two sinking fund accounts one in cedis and another in US dollars to help manage future debt payments.
These funds, introduced he said is in line with the 2025 Mid-Year Fiscal Policy Review and backed by the Public Financial Management Act, meant to ensure that upcoming loan obligations due between 2026 and 2028 are paid on time.
The Finance Minister assured investors and the public that all future debt commitments, including those under the DDEP, will be fully honoured without delays.
By: Jacob Aggrey
