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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
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Prophet Courage Heavens set to launch ‘Predestination’ book on March 23
Prophet Courage A. Heavens is set to launch the much-awaited book titled ‘Predestination’ on Sunday, March 23, 2025 at 5:00PM.
The launch, which is expected to impact lives, will take place at Crossgates Ministries, Flattop, off N1 Highway, opposite Angel Hauz.
The book is aimed at addressing the way people struggle to understand how free will and destiny align.
It is also aimed at providing clarity on God’s sovereignty and one’s place in His divine plan.
The various chapters of the book address various issues through scriptures and personal stories.
Committed to impacting society, part of the proceeds from the book will go into Courage Heavens Education Legacy (CHEL), an educational foundation transforming lives.
CHEL is dedicated to providing financial support and mentorship to brilliant but needy students, ensuring they have access to quality education and opportunities for a better future.
Prophet Courage Heavens is a prolific writer and previously authored Eli Eli Lama Sabachthani, a powerful book that encourages unwavering faith in times of trials.
In addition, he has written seven more prophetic and life-changing books that are yet to be published.
He is dedicated to raising the next generation for impactful ministry. As the leader of Crossgates Ministries, he nurtures believers in faith and purpose.
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Health minister launches Ghana Medical Cares Trust Fund Taskforce
The Minister for Health, Kwabena Mintah Akandoh, has officially inaugurated the Ghana Medical Care Trust Fund (MahamaCares) Taskforce to oversee the successful implementation of the initiative.
MahamaCares, an initiative of His Excellency President John Dramani Mahama, aims to provide dedicated financial support to individuals suffering from chronic and debilitating illnesses.
The initiative is designed to ensure fairness in healthcare access, particularly for those facing financial barriers to treatment.
Addressing the gathering, Mr. Akandoh highlighted that while the National Health Insurance Scheme (NHIS) has improved medical coverage, it does not completely ease the financial burden of treating chronic diseases.
He stated, “The Ghana Medical Trust Fund is a bold response to this challenge. It’s purpose is clear: no Ghanaian should choose between their health and financial ruin.”
He noted that the taskforce has been tasked with developing a strong policy and legal framework to establish MahamaCares as a statutory entity.
In addition, the team will be responsible for designing a sustainable funding model to ensure the long-term viability of the fund, setting clear eligibility and disbursement criteria to guarantee fairness, and evaluating Ghana’s healthcare infrastructure to recommend improvements for better accessibility.
Rev. Prof. Emeritus Seth Aryeetey, Chairman of the nine-member taskforce, expressed his immerse gratitude to the President and the Minister for the opportunity to serve.
He assured that the taskforce would work diligently to ensure the success of the MahamaCares initiative and deliver on its mandate effectively.
Other members of the taskforce include; Prof. Emeritus Binka – former Vice Chancellor of the University of Health and Allied Sciences, Prof. Margaret Kweku – Public Health Consultant, Dr Alfred Doku – Consultant Cardiologist, Dr. Radolph Nsor-Ambala – financial expert, Dr Anthony Gingong – representative of the National Health Insurance Trust Fund, Dr. Anthony Seddoh – Health Policy and financing expert, Anna Pearl Akiwumi Siriboe – lawyer and the Attorney General’s representative for the committee and Dr Belinda Afriyie – Public Health Consultant Secretary for the Taskforce.
