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Torentco deal: We’ll give OSP all the necessary documents – TOR Board
The Board of the Tema Oil Refinery (TOR) has promised to provide the Office of the Special Prosecutor (OSP) with all the necessary documentation for its investigations into the refinery’s intended deal with Torentco Asset Management Limited (TAML).
In a bid to turn TOR from a debt-ridden company to a profitable path, a special-purpose vehicle with the name Torentco Asset Management Limited was set up to champion the lease agreement.
Torentco Asset Management also created a special-purpose vehicle named Tema Energy and Processing Limited (TEPL) to ensure that this vision is achieved.
However, several policy think tanks, including IMANI Africa, have raised red flags over the deal.
The General Transport, Petroleum, and Chemical Workers Union (GTPCWU) of the Trades Union Congress (TUC) Ghana also petitioned the Office of the Special Prosecutor to investigate the lease agreement.
The Transport Workers Union believes “the actions of the individuals behind Tema Energy and Processing Limited seek to induce workers of TOR with 20% of its shares through misrepresentation of workers in an entity by the name “TOR Workers Charity Trust” that never existed nor heard of at TOR, apart from the five individual directors and direct beneficiaries of this trust.”
They expressed fear that the country might be shortchanged because the Board of Directors of TOR has been compromised in the deal.
The OSP, therefore, directed the management of TOR to suspend its proposed partnership agreement with TEPL.
The OSP, in a letter dated November 21, 2023, and addressed to the Managing Director of TOR, Daniel Osei Appiah, said, “It has commenced an analysis of the risk of corruption in respect of the proposed partnership.”
“You are directed to immediately suspend the proposed partnership agreement, ongoing negotiations, operations and all other ancillary activities arising out of and consequent upon the proposed partnership agreement until you are otherwise advised by the Special Prosecutor.”
As such, the Board of TOR in a statement issued on Sunday said “The Board and management of TOR will avail to the OSP any and all documentation required, and we are certain that a better understanding of the issues and processes will allow for this important project to have a chance of being implemented.”
“The alternative would require that TOR continues its ongoing search for viable options in a very difficult market.”
Source: Citinewsroom.com
Massive celebrations were recorded countrywide as the Black Stars opened their 2026 World Cup campaign with a 1-0 victory over Panama in Toronto on Wednesday.
Midfielder Caleb Yirenkyi scored the only goal of the match late in the game as he shot in a decent cross from substitute Brandon Asante.
The win gave Ghana a positive start in the competition, placing them in second position behind England, also with three points but with a superior goal aggregate.
After the final whistle, the streets and other viewing centres were turned into partying grounds as fans, mostly clad in the team’s paraphernalia, danced to several World Cup-themed music.
Others blew the vuvuzelas in joyous mood with others putting up a spirited ‘jama’ session.
Former New Patriotic Party (NPP) parliamentary candidate for the Adentan Constituency, Akosua Manu, has urged party members to move away from what she describes as an “entitlement mentality” and focus on unity, sacrifice and hard work as the party prepares for the 2028 general election.
In a statement titled “Is Loyalty a Queue?”, and posted on facebook, Ms. Manu argued that loyalty to the NPP should not be judged by how long a person has been in the party but by their contributions and commitment to its growth.
According to her, the NPP’s history shows that many of its leaders faced significant opposition from within the party before eventually leading it to electoral success.
She cited former President John Agyekum Kufuor as an example, saying he had to overcome resistance from influential figures within the party before winning power for the NPP in 2000.
Ms. Manu noted that after the party lost power in 2008, former President Kufuor faced criticism and accusations from some party members.
However, she said supporters eventually put their differences aside and worked together to rebuild the party.
She pointed to the experience of former President Nana Addo Dankwa Akufo-Addo, who, according to her, faced opposition from some factions within the NPP despite his long service to the party.
“His trials were ten times what Kufuor endured,” she stated, adding that Akufo-Addo eventually overcame the challenges and became President of Ghana.
Turning to the NPP’s current flagbearer, Dr. Mahamudu Bawumia, Ms. Manu said he also faced resistance from different groups within the party while seeking leadership.
She praised Dr. Bawumia for contributing to policy-based political discussions in Ghana and for remaining composed following the NPP’s defeat in the 2024 elections.
According to her, party members must now rally behind him in the same way they supported former Presidents Kufuor and Akufo-Addo.
Ms. Manu, however, warned that internal divisions and a sense of entitlement remain major threats to the party’s future.
She argued that some party members place too much emphasis on how long individuals have belonged to the NPP rather than on their contributions and capabilities.
“This entitlement does not question impact. It does not ask what you sacrificed or what you built. It asks only how long have you been here,” she said.
The former parliamentary candidate cautioned that such attitudes could discourage committed members and prevent the party from selecting the best people for leadership positions.
She further called on the party’s incoming national executives to strengthen the NPP’s core values of sacrifice, honesty, integrity and dedication to national development.
Ms. Manu addressed the concerns of young party supporters, many of whom she said became discouraged following the NPP’s electoral defeat in 2024.
According to her, many young people remain eager to see the party return to power but are unwilling to support internal conflicts driven by personal ambitions.
She urged party elders to place the interests of the NPP above their individual goals and to demonstrate leadership that attracts rather than alienates members.
“The NPP is bigger than any one of us. It always has been. Our collective responsibility is to act like it,” she stated.
By: Jacob Aggrey
