It’s Very Depressing To See How Prez Akufo-Addo Has Mismanaged Ghana Infrastructure Investment Fund – Okudzeto Ablakwa
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The Member of Parliament for North Tongu on the ticket of the opposition National Democratic Congress, NDC, Hon. Samuel Okudzeto Ablakwa can not fathom how the NPP government is bent on mismanaging the nation’s funds.
This was revealed in one of his numerous write ups to expose the ruling government over excessive spending.
Below is the write up;
Okudzeto Writes
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It is most depressing to see how the Ghana Infrastructure Investment Fund (GIIF) has been mismanaged under President Akufo-Addo’s watch, largely due to naked nepotism.
The fund has been disbursed like confetti under opaque conditions in various sweetheart arrangements.
A whopping GHS146.6million was “invested” in three companies (Marinus Energy Limited, Platinum Properties and Spectrum Fibre Company Limited) even though GIIF officials admitted to auditors that equity interest in these investments had not been determined, and even more troubling, GIIF has still not secured certificates of ownership in respect of its equity interests. (See page 195 of 2021 Auditor-General’s Report).
Interestingly, Platinum Properties was the same company at the receiving end of a bizarre March 2020 tax waiver of US$23.98million (GHS134million at the then prevailing exchange rate) which the NDC Minority in Parliament vehemently opposed.
It should be noted that Platinum Properties is the company behind the controversial Pullman Accra City Hotel and Serviced Apartments project.
The legitimate question many are asking is that would the promoter of the Pullman Accra City Hotel project have received these discriminatory and opaque benefits if he wasn’t President Akufo-Addo’s dear brother-in-law?
What Ghana needs is a friendly business climate that promotes indigenous enterprise on an even keel without nepotism and insider dealing so all Ghanaian entrepreneurs can flourish regardless of family or political background.
The above are the exact words going viral reportedly emanating from the North Tongu legislator.
