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Business News of Saturday, 9 February 2013

Source: citi fm

GRA to repurchase auctioned property

The Managing Director of the Ghana Railway Authority in the Western Region, Ato Botchway has stated the company is negotiating to repurchase its properties auctioned by the Social Security and National Insurance Trust (SNNIT).

The Daily Graphic on Friday reported that SNNIT has auctioned some properties belonging the Ghana Railway Authority to defray a GH¢12.8 million debt the company owed to the Trust.

Some of the properties auctioned are the Railways Transit Quarters and a three bed room house.

In an interview with Citi News, Mr. Ato Botchway said “the auction has already taken place, what is happening is we are attempting to re-purchase the property from Menergy International Limited” the company which bought the property.

Mr. Botchway has expressed hope that the Ghana Railway Company would be successful in the attempt to get its properties back.

“We hope so, we are praying that we can be successful” he said.