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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
News
GFP founder Akua Donkor passes on
Akua Donkor
The founder and leader of the Ghana Freedom Party (GFP), Madam Akua Donkor, has passed away.
She died at the Greater Accra Regional Hospital on Monday, October 28 at 72.
Reports gathered by The Spectator indicated that she was diagnosed with respiratory issues at the Nsawam Government Hospital and was referred to the Greater Accra Regional Hospital where she died.
Known for her spirited presence in Ghanaian politics, Akua Donkor was a staunch advocate for the rights of farmers and women.
Her bold and outspoken demeanour enabled her to capture public attention and significantly impact the grassroots communities she aimed to represent.
Throughout her political journey, she distinguished herself by running for the presidency multiple ti mes, demonstrating remarkable resilience despite financial challenges.
Akua Donkor was listed as the third candidate on the ballot for the upcoming 2024 presidential election.
Her political career began with her election as the Assemblywoman for Herman in the Ashanti region, and she made her first bid for the presidency in 2012 as an independent candidate.
She was, however, disqualified by the Electoral Commission in 2012 and 2016 for the reason that she did not meet the eligibility requirements.
News
Stop using breast enhancing creams …they expose females to breast cancer
Mrs Enyonam Abiti making a presentation
Women have been cautioned to stop using of breast enhancing creams which is said to contain estrogen, predisposing them to the breast cancer disease.
Using such creams over time increases estrogen levels in patrons of such products thereby exposing them to the disease.
Estrogen is a type of sex hormone responsible for development and regulation of female reproductive system and secondary sex chart.
Mrs Enyonam Abiti, a medical officer at Madina Pentecost Hospital, said this at a day’s seminar and breast cancer awareness creation day at Sunyani in the Bono Region.
The programme, organised by the Bono Regional office of COCOBOD, forms part of activities to mark this year’s World Breast Cancer Day celebrations held every year in October.
Some staff of COCOBOD and women in cocoa farming used the opportunity to have their breast screened.
Mrs Abiti during a presentation revealed that one in every eight women was diagnosed of breast cancer while 1 from 1,000 men contract the disease.
She noted that early detection and regular screening was the surest way to salvage the situation.
She mentioned that habits such as excessive smoking and alcohol intake predisposes women to breast cancer.
Moreover, she added that people advanced in age, past history, past ovarian cancer case as well as young girls that menstruate early, among others stands the risk of contracting the disease.
The Bono Regional Administrator of COCOBOD, Michael Paddy Kwesi Asumanu, stated that the decision to organise the breast screening was to ensure that women in cocoa farming were healthy at all times to go about their farming activities in order to increase productivity.
“We don’t want a situation where our women in cocoa farming are infected with breast cancer disease to jeopardise the cocoa sector,” he said.
According him, the Regional Office of COCOBOD in partnership with the Bono Regional Teaching hospital would organised screening for about 4,000 women on October 31, 2024 at Goaso in the Ahafo Region.
The move, he said, was part of their corporate social responsibility towards women as the world mark breast cancer awareness creation this month.
Some of the women who spoke to The Spectator commended COCOBOD for the gesture and called on other institutions of state to emulate the example.
The organisers later held a float on the principal streets of Sunyani to create awareness on the breast cancer disease.
From Daniel Dzirasah, Sunyani
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