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
Government has inaugurated a Technical Committee to drive the implementation of the Accra Marine Drive Tourism Investment Project, a key initiative aimed at transforming the capital’s waterfront into a world-class tourism and commercial hub.
Minister for Tourism, Culture and Creative Arts, Abla Dzifa Gomashie, described the move as a critical step to accelerate progress, stressing the need for efficiency, collaboration, and accountability.
The Committee, chaired by Deputy Minister Yussif Issaka Jajah, will coordinate stakeholders, address bottlenecks, and ensure timely delivery of the project.
The initiative is expected to boost tourism, create jobs, and stimulate economic growth, reinforcing Ghana’s commitment to sustainable development.
The Ghana National Fire Service (GNFS) has stepped up its fire safety education efforts in Suhum Municipality and Abetifi Odwenease as part of ongoing campaigns to prevent fire outbreaks and improve emergency readiness.
In Suhum, fire officers engaged traders and customers, educating them on handling LPG leakages, proper use of fire extinguishers, and general shop safety practices. Meanwhile, the Kwahu East Command extended outreach in Abetifi Odwenease, visiting homes, drinking spots, construction sites, and stores to promote safe handling of flammable materials, proper electrical usage, and correct gas cylinder placement.
Practical demonstrations on fire extinguisher use were conducted, and residents were encouraged to adopt good housekeeping habits and proactive safety measures to reduce fire risks and protect lives and property.
