Since Gabriela Tetteh is now acting as spokesperson for the corrupt Akufo-Addo/Bawumia/NPP government on the stinky Boankra Integrated Logistics Terminal project, can she tell us;
1. Why did the government of Ghana acting through the Ministry of Transport, direct the Ghana Ports and Habour Authority to take state funds, in the form of dividends from John Mahama’s MPS deal to the tune of $33.3 million dollars and use it as part payment to acquire 39% percent shares in Ashanti Port Services Limited (APSL), the company executing the Boankra Integrated Logistics Terminal project, when the construction of the railway line which will make the said project viable has not even commenced? How do you invest state funds to the tune of $33.3 million in a project, the viability of which is in limbo?
2. Can Gabriela Tetteh tell us whether or not, the government of Ghana acting through the Ministry of Transport or GPHA conducted any credible valuation to determine the real value of Ashanti Port Services Limited before deciding to pay $49.1 million dollars for a 39% stake in the company, $33.3 million dollars of which they have already paid? If yes, where is that Valuation Report?
3. Clause 6.4 of the Shareholders Agreement between Ghana Ports and Habour Authority, Ashanti Port Services, and Ghana Shippers’ Authority dated 20th September 2022 provides:
“The Company shall issue One Hundred and Twenty-six million (126,000,000) ordinary shares in the following proportions:-
I) Sixty-four Million, Two Hundred a n d Sixty Thousand (64,260,000) (64,260,000) Ordinary shares with the value of Sixty-four Million, Two Hundred and Sixty Thousand United States Dollars (US$64,260,000.00) issued to Afum Quality Limited. As of the date hereof, AQL had paid for Four Hundred and Eighty Thousand ordinary shares (480,000) in the sum of Eighty Thousand United States Dollars (US$80,000). The balance for AQL to pay up is Sixty Four Million One Hundred a n d Eighty Thousand United States Dollars ( US$64, 180,000);
II. Forty-Nine Million, One Hundred and Forty Thousand (49,140,000) Ordinary Shares with the value of Forty-Nine Million, One Hundred and Forty Thousand United States Dollars (US$49,140,000) issued to Ghana Ports and Habours Authority.
II. Twelve Million, Six Hundred Thousand (12,600,000) Ordinary Shares with a value of Twelve Million, Six Hundred Thousand United States Dollars (US$12.600,000.00) issued to Ghana Shippers Authority as carried shares.
IV) Payment of the carried shares of GSA shall be made by the Funding Shareholders in their respective proportions at a date to be determined by them.
(v) This share distribution shall translate to the following proportion of the issued shares of the Company
• AQL- 51%
• GPHA- 39%
• GSA- 10%”
Under the agreement, Ghana Ports and Harbour Authority was required to pay an advance of $33.3 million dollars out of their equity contribution of $49.1 million within 10 days of the signing of the agreement, which they have done.
*Can Gabriela Tetteh tell us, when Afum Quality Limited (AQL), the majority shareholder with 51% shares was supposed to pay their equity contribution of $64.2 million dollars and whether or not that has been paid?*
*As can be gleaned from the agreement, as of 20 September 2022 when the Shareholders agreement was signed, Afum Quality Limited had only paid a paltry $80,000 dollars, with an outstanding balance of $64,180,000 to pay. Where is this money?*
What money is being used to run the company now?
*Background*
• The NPP had been peddling lies against H.E John Dramani Mahama that he sold the Tema Port to a company called MPS.
• We at Loud Silence Media took the matter up and conducted our independent investigations into the matter which revealed that the said claim was palpable falsehood. We came out with incontrovertible facts to expose this NPP lie.
• In the process of our investigations, we found out that dividends paid by MPS to GPHA to the tune of $33.3 million dollars have been used by the corrupt Akufo-Addo/Bawumia government to acquire shares in an over-valued company called Ashanti Port Services Limited.
• The majority shareholder of this company is Afum Quality Limited owned by one Isaac Afum who doubles as Chief Executive Officer for Ashanti Port Services Limited.
• This money was paid at a time when the railway infrastructure needed to make the project viable was and is non-existent.
• Even worse is the fact that the money was paid without any credible valuation.
• We also found out that the majority shareholder, Afum Quality Limited has not contributed his equity stake to the running of the company but is virtually using funds contributed by GPHA, the minority shareholder, whose funds are dividends from Mahama’s MPS project. Can you imagine this?
• More importantly, we found that the $33.3 million of state funds which is the product of visionary Mahama’s MPS project which the NPP is today making so much noise about, was paid to this NPP guy, barely two months into the 2020 general elections, who in turn paid huge kickbacks to his NPP collaborators at the Ghana Ports and Habour Authority. We shall be unmasking all those criminals in the coming days.
These are the facts we put out in our expose’, only for the NDC Central Regional Communication Officer, Gabriella Tetteh who is sleeping with the owner of this company, Isaac Afum, to come out to openly discredit our investigative work without any factual basis.
*In her desperation to defend her sex partner, she said that the Boankra Inland Port Project started under the NPP/Kuffuor era when that is clearly false. The parliamentary Hansard of August 14, 2020 (attached hereto) clearly indicates that the project started in the early 1990s under the NDC Rawlings regime.
Why is Gabriela seeking to give credit to the NPP when that credit must instead go to the NDC?
* She also falsely asserted that the Boankra Inland Port Project stalled because of the MPS project executed by the NDC/Mahama government thereby undermining her own party’s record.
• In a strange attempt to defend the corrupt minister of Finance, Ken Ofori Atta, the NDC central regional communication officer went on to emphatically assert that the said project, Boankra Inland Port, which is now Boankra Integrated Logistics Terminal is wholly under the Ministry of Transport and has nothing to do with the Ministry of Finance. That is another lie. The parliamentary Hansard of 14th August 2020 (attached Herero) indicates that the project was “registered with the Ministry of Finance under PPP financing” right from the outset.
Think about this and tell me if this girl deserves to be a communication officer of the opposition NDC who is hungry and struggling for power.
This is only the beginning.
All the criminals involved in this stinky deal will be exposed in the coming days.
Stay tuned……..
