Ghana gas takeover "crude and disrespectful" - Botchwey

The Board Chairman of the Ghana National Gas Company, (GNGC), Dr. Kwesi Botchwey has described the failure of authorities of the Energy Ministry to inform him of GNPC’s takeover of GNGC as disrespectful.

The Energy Ministry Thursday announced in a statement that the takeover of GNGC by the GNPC was complete.

But Dr. Botchwey reacted in a statement dismissing the claims of the Energy Ministry.

In an interview with Citi FM Friday, Dr. Botchwey stated that the GNGC was not notified by the takeover of the company by the Energy Ministry and heard the decision on radio.

“The fact is incontrovertible and I’m making a point that such a fundamental decision was taken with such crudity and haste to say nothing of the discourtesy and disrespect to the board, management and staff was regrettable.”

“The decision was not taken with any consultation with Ghana Gas or even prior notification to Ghana Gas, I heard the decision on radio, just like every other citizen did, such a fundamental decision was taken without any reference to us.”

The former Finance Minister added that the takeover was “crude and the right thing must be done.”

“We issued a statement saying that the takeover of an entity like GNGC by GNPC could not be simply done by some share transfer notification and that it is a long process that requires the valuation of shares, the payment of liabilities and so on, that process as far as we are concerned was not completed, we have not even had any meeting with the transaction advisor,” he added.

“Nobody is saying anything about the merits of the decision all we are saying as a matter of fact is that we were not consulted and secondly the process as far as we were consulted between the two entities had not even begun”

Dr. Botchwey also dismissed another letter from the Energy Ministry which sought to indicate that GNGC was informed of the takeover at a meeting held on December 9.

“Yes there was a meeting on the 9th but mind you the meeting was three clear weeks after budget statement was announced...at the meeting we were simply informed that the transfer had been done and I made it clear there that there should be a formal letter to us on the matter so we can meet and act appropriately,” he added.