Bawumia, Ofori-Atta, others breached concession agreement – NDC

The National Democratic Congress has accused Vice President Dr Mahamudu Bawumia, Finance Minister Ken Ofori-Atta and other government officials of breaching the concession agreement between ECG and PDS.

According to General Secretary of the party, Johnson Asiedu Nketia, the FTI report revealed that the Vice President and his team breached the agreement when they gave approval for PDS to present a demand guarantee from an insurance company instead of the required demand guarantee or letter of credit from a bank which had already been approved by parliament.

“The FTI consultancy report makes a startling revelation of a meeting held on February 19, 2019. At this meeting attended by the Vice President, Dr Bawumia, the Finance Minister, Hon. Ken Ofori Atta, ECG Board Chairman, Keli Gadzekpo, MiDA Board Chairman, Martin Eson-Benjamin and representatives of PDS, final approval was given to PDS to change the requirement of a demand guarantee or letter of credit from a bank into a demand guarantee from an insurance company.”

“This infamous decision was taken by high ranking government officials, including the Vice President of the Republic, representing President Akufo-Addo, who are all expected to protect the public interest,” Asiedu Nketia noted.

He added that the insurance guarantee that was subsequently provided by PDS is currently being challenged by Alkoot, the Qatar-based insurance company which purportedly issued it.

The NDC further expressed disappointed in government for sacrificing the nation’s interest which they believe jeopardised the assets of ECG.



The NDC wants to know “whose interest was the Vice President, acting on behalf of Akufo-Addo, serving when he took that reckless decision which he knew very well was inimical to the interest of Ghana?”.

Asiedu Nketia said government has deliberately failed to act on the report in order to shield high ranking officials and cronies of the president.

He believes “the plan is to let the matter die a natural death and still enable create conditions for cronies of the President to profit for this clearly corrupt arrangement”.