Ghana’s finance ministry says it owes Groupe Nduom only GH¢3.1 million

The government of Ghana owes Groupe Nduom only $ 573,012 (GH¢3.1 million). This is according to a source at the Ministry of Finance.

Dr Papa Kwesi Nduom

According to Joy News, documents at the Finance Ministry show that contractors government owe under an Interim Payment Certificate (IPC) arrangement with investment company Gold Coast Securities was up to GH¢137 million and accumulated interest of GH¢132 million.

A further probe indicated that the Finance Ministry has so far validated GH¢35 million and paid GH¢22 million. These are debts owed directly by the Ministry of Finance. 

Meanwhile, sources close to the Minister of Finance proved only GH¢12.5 million out of the GH¢22 million claim sent by Gold Coast Securities could be traced. 

The rest of the contracts are either ‘fictitious’ or uncompleted contracts. The amount owed the Ministry of Finance, therefore, has had GH¢9.4 million paid with a GH¢3.1 million debt owed contractors who were in an IPC arrangement with Groupe Nduom.

However, Ben Afreh of Gold Coast Securities said the money owed them is more than GH¢2billion by all government agencies including COCOBOD and the Ministry of Finance. 

“The Ministry is telling you and we have documents to prove” Ben Afreh lamented. 

“The debts include certificates issues for completed work, yet to be issued certificates because the work is yet to be finished and terminated projects the contractors are yet to re-enter. A private auditor has vetted all these projects and we expect the government to pay,” he added.

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.

Eyewitness? Submit your stories now via social or:

Email: news@pulselive.co.ke

Recommended articles

Africa’s richest man Aliko Dangote seeks to raise an additional $1.1 billion to complete his refinery project by 2023

Africa’s richest man Aliko Dangote seeks to raise an additional $1.1 billion to complete his refinery project by 2023

8 African countries where Rihanna plans to launch her luxury Fenty Beauty products

8 African countries where Rihanna plans to launch her luxury Fenty Beauty products

Africa’s richest man Aliko Dangote poised to overtake another Russian billionaire Vladimir Lisin on Bloomberg billionaires list

Africa’s richest man Aliko Dangote poised to overtake another Russian billionaire Vladimir Lisin on Bloomberg billionaires list

Mzee Kibor's will made public, revealing how vast wealth and millions will be distributed

Mzee Kibor's will made public, revealing how vast wealth and millions will be distributed

Ini Edo posts new photos amid reports of welcoming a baby through surrogacy

Ini Edo posts new photos amid reports of welcoming a baby through surrogacy

Haiwezi, my wife is prettier - Omanyala turns down Huddah’s advances

Haiwezi, my wife is prettier - Omanyala turns down Huddah’s advances

Here are the top 10 cities in Africa where the most rich people live

Here are the top 10 cities in Africa where the most rich people live

Referee behind chaos at AFCON was rushed to hospital after match

Referee behind chaos at AFCON was rushed to hospital after match

Eddie Butita speaks on his fallout with Miss Mandi, offers her a job

Eddie Butita speaks on his fallout with Miss Mandi, offers her a job