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Business News of Thursday, 27 August 2020


Finance Ministry speaks on KRL controversy

Finance Minister, Ken Ofori-Atta Finance Minister, Ken Ofori-Atta

The Ministry of Finance has been made aware of a recent article published anonymously on 10th August 2020, on the website Open Source Investigations (OSI) and carried on other local electronic and print media.

The articles cited documents which KRL filed with the U.S. Department of Justice in 2016 and 2017 to infer that KRL International was providing services for a Ghanaian political party while being paid by the Government of Ghana.

This is incorrect.

The article is a clear misrepresentation of the facts as it relates to the Ministry of Finance’s contractual relationship with, and fee payments to, KRL International LLC.

The Ministry of Finance’s relationship with KRL is transparent and consistent with the provisions of the Public Procurement Act.

The Ministry of Finance signed its first agreement with KRL, for Consultancy services, on 28th June 2017, to provide consultancy services in support of this Ministry’s work in the United States and the international community in the area of strategic communications, investment promotion and government relations.

This was after the Ministry had applied and received approval from the Public Procurement Authority, pursuant to Section 40 of the Public Procurement Act, 2003 (Act 633) (as amended).

Payments to KRL for services to the Ministry did not commence until after the contract had been signed and after delivery of services to the Ministry.

KRL have distinguished themselves in using their expertise to project Ghana on the global stage, presenting Ghana’s true picture as a pillar of stability in Africa and an attractive destination for investment.