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Business News of Wednesday, 20 November 2019

Source: www.ghanaweb.com

Govt’s debt of GHC2.4 billion is enough to pay all Gold Coast, GN Savings customers

Groupe Nduom has asked government to do due diligence by paying monies it owes them to facilitate payment of their customers.

In a statement released by the Corporate Affairs department of the company, they noted how delays on the part of government is stalling processes.

They believe each party will have its peace if their monies are paid by the state and on time at that.

The group which is demanding an amount of GHC2.4 billion from government, is currently in court to challenge the state's contrary stance that it owes them a sum of GH30 million.

Read full statement below

The value of the Gold Coast Government Infrastructure Portfolio if paid today, will be enough to pay back all the Gold Coast/BlackShield/GCFM Structured Finance principal amounts PLUS all GN Bank/Savings deposits.

So let’s focus on the SOLUTION and who must act.

This is not and cannot be an NPP/NDC matter. This is beyond politics. The rule of law respects the sanctity of contracts. So contractors must be paid. That money will go straight to customers. The 2.4 billion Ghana Cedis does NOT belong to Dr. Papa Kwesi Nduom or Groupe Nduom.

That is why we are in court. To ensure that the liability is recognized to be what it is. And paid in order to meet the demands of customers. When this happens, the customers, Groupe Nduom and Government will all have peace of mind.

What is owed by private sector companies when recovered will provide a return on BlackShield/GCFM customers’ investments.

These are the facts.

Signed GN Corporate Affairs

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