The Bridge Condemns The New Patriotic Party

For Slandering President John Mahama
Mr. Anthony Abayafe Karbo addressed a press conference “Ghana must know“and attempted to impugn on the credibility of the President, his Excellency John Mahama by attaching him to a legitimate business transaction entered into by Engineers and Planners Ghana ltd. and Merchant Bank Ghana Ltd. in the year 2007.
We want to put it on record that at the time the loan was acquired, H. E. John Mahama was an opposition Member of Parliament for Bole-Bamboi. The New Patriotic Party was in power and constituted the Board Of Directors of Merchant Bank under the leadership of H. E. John Kuffour. The said loan transaction was supposed to be repaid within a five-year period. For reasons best known to the Merchant Bank Board, the loan repayment period was reduced to three years. Ordinarily, this would amount to a Breach of Contract and Engineers and Planners are entitled to sue for Breach of Contract.
It is against this backdrop that we find it unmeritorious, vexatious and frivolous that unsuccessful attempts are being made by the NPP to link this legitimate loan transaction to President John Mahama.
Inasmuch as we believe that SSNIT fund ought to be protected very well since these are workers’ contributions, we would like to point out that it is immoral for desperate politicians to try to score cheap political points from this obvious legitimate business transaction.
The basis of the NPP press conference is supposed to be a Reuters publication to the effect that FirstRand of South Africa has purchased Merchant Bank and as part of the deal, SSNIT being the majority shareholder of Merchant Bank is supposed to absorb all the indebtedness amounting to ?330 million 19.2% is allegedly owed by Engineers and Planners. We want to put on record that as we speak,
1. There is no documentary proof of any valid sale of Merchant Bank to FirstRand Bank of South Africa.
2. There is no documentary proof of Bank of Ghana’s approval of any such sale of Merchant Bank to FirstRand as stipulated in the banking act and the Bank of Ghana act. In any sale, amalgamation, or transfer of shares from any Bank licensed by the Bank of Ghana to any individual, a Body Corporate must have statutory approval of the bank of Ghana.
3. We are yet to be shown any valid proof of such approval by the Bank of Ghana.
It is our considered view that the npp’s position on this purported sale of Merchant Bank is highly speculative and has no basis in law or in fact. What we cannot understand is the link between President Mahama and a valid business transaction between Merchant Bank and Engineers and Planners which was executed in 2007.
We also want to put on record that Engineers and Planners has never indicated that they would not service the loan in question to merchant bank.
We by this press statement once again give assurance to SSNIT payment contributors and all workers of Ghana that we, as well as any other group of Ghanaians would ensure as indicated by Engineers and Planners themselves that the loan would be serviced accordingly.
Engineers and Planners is an indigenous Ghanaian company now having operations in the West African sub-region and other parts of the African continent. Currently, Engineers and Planners is providing mining support services to Arcellor-Mittal, the second largest steel company in the world in their $1.5 billion iron ore concession in Liberia. This is the clearest demonstration of the can do attitude of the Ghanaian and same must be given the needed support and encouragement rather than the naked, opportunistic victimization and persecution by the New Patriotic Party, a party that is promising Ghana a transformational leadership?
We ask, is this how they plan to transform Ghana? Indeed, if this is the evidence of the NPP’s corruption against the President, then they have competently failed to prosecute this evil smear campaign against his Excellency, John Mahama. Ghana deserves better.
We are calling on the NPP and its leader to render an unqualified apology to the President and Mr. Ibrahim Mahama, a successful businessperson, else we would advise ourselves.
Signed
Bright Kinful
(Deputy Secretary, THE BRIDGE)
Spokespersons: Godwin Tamakloe 0246330683 (English & Twi)
Ephraim Sackey 0244975955 (English & Ga).