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
News
Hopeson Adorye invites Ghanaians to join new United Party

A leading member of the newly rebranded United Party, also known as UP, Hopeson Adorye, has called on Ghanaians who feel dejected or oppressed in politics to join the new party, describing it as a better political home for all.
He made these remarks at the launch and rebranding of the Movement for Change into the United Party (UP) at the Coconut Grove Hotel in Accra on Thursday, October 16.
Mr. Adorye explained that the party was fully ready to serve as an alternative political force to address Ghana’s challenges.
He noted that the UP leadership was focused and determined to change the country’s political structure and bring meaningful transformation.
He stated that the party’s vision was to build a united Ghana, stressing that without unity, the nation could not make real progress.
According to him, the mission of the UP was to create a prosperous country where every citizen could provide for themselves and their families.
Mr. Adorye emphasised that the new party was not formed to destroy any existing political organization but to contest and win elections to bring about the needed change.
He expressed confidence that many Ghanaians from different political backgrounds, including those dissatisfied with their current parties, would join UP+ because of its values and inclusive ideology.
He added that the party was building its structures from the grassroots and hoped to complete them by the end of the year as part of efforts to strengthen its national presence.
The Founder of the United Party (UP), Alan Kwadwo Kyerematen, also addressed the gathering and reflected on the transformation of the Movement for Change into the UP+.
He explained that the rebranding marked a new phase of political renewal, symbolized by the monarch butterfly in the party’s logo, which represents transformation, resilience, and endurance.
Mr. Kyerematen noted that the colors of the party yellow, black, and white stood for Ghana’s gold resources, the black star of Africa, and purity, respectively.
He stated that the UP stands for ethical leadership, integrity, and unity, adding that many of its members entered politics to serve the nation, not for personal gain.
He revealed that the party’s Great Transformational Plan (GTP), which has received global recognition, would guide the UP+ government when elected.
“The plan is designed to stabilize the economy, reduce the national debt, and promote industrial growth through ten strategic anchor industries” he added.
He explained that the health policy would emphasize preventive care, community-based services, and the inclusion of traditional and herbal medicine, which many Ghanaians rely on.
Mr. Kyerematen further stated that the UP would promote a strong Pan African agenda, explaining that Ghana’s prosperity must be tied to the wellbeing of the entire continent.
He noted that the party believes in Ghana first, and its policies were anchored on uniting the country and restoring hope in national development.
By: Jacob Aggrey
News
Dr. Bawumia urges NPP members to rally behind his flagbearership bid

Flagbearer hopeful of the New Patriotic Party, Dr. Mahamudu Bawumia, has appealed to the rank and file of the party to rally behind him as he prepares to lead the party in the 2028 elections.
Addressing delegates in Sene East during his campaign tour, he highlighted key contributions to the party.
He revealed that at the behest of former president, Nana Addo Dankwa Akufo-Addo, he left his job at the Bank of Ghana to work for the NPP.
According to him, many asked him to rescind the decision. However, because of his loyalty to the party, he resigned from the bank to be their running mate.
He added that at the African Development Bank, he resigned in 2012 just to serve the party at the highest level.
“I defended the party in 2012. We lost, but I stayed in Ghana to put pressure on John Dramani Mahama and the NDC,” he added.
He is therefore urging the party to choose continuity and to back his leadership.
By: Jacob Aggrey
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