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The Boankra Looting Disaster and the Looming US$3.6 Billion Judgement Debt — Part 2

Those who thought the current economic crisis and debilitating debt overhang have tamed the appetite of the /Bawumia government to depart from reckless borrowing must begin to revise their notes.

Intercepted Cabinet Memos from government's latest Cabinet Retreat held on Friday March 15, 2024 indicate that instead of the Akufo-Addo/Bawumia government embarking on urgent remedial steps to clean up the Boankra mess which has led to grave financial loss and a looming US$3.6billion judgement debt, the Akufo-Addo/Bawumia Cabinet has rather decided to prod the Ghana Shippers' Authority to go for a loan in an ill-conceived attempt to salvage the ailing Boankra Integrated and Logisitics Terminal Project.

The Cabinet Memo dated 18th March, 2024 and signed by Secretary to the Cabinet, Mercy Debrah-Karikari further instructs the to assist the Ghana Shippers' Authority to access the loan. (See copy attached).

A second intercepted Cabinet Memo from the same Cabinet Retreat directs the (GPHA) to dedicate 80% of its 2024 dividend from Meridian Port Services (MPS) to resuscitate the Boankra albatross. (Copy duly attached).

May we agree to reserve for another day the Mahama MPS intervention which was heavily attacked by the then Akufo-Addo/Bawumia opposition and branded as a symbol of only for it to now become the saving grace just like Ameri, ESLA, GIIF and many other Mahama visionary legacies.

The Akufo-Addo/Bawumia government is the only government in the world that goes to for an approval to implement a Build, Operate and Transfer agreement and yet without an amendment to the original parliamentary resolution ends up funding the project with government resources and in the process seeking to worsen our already precarious unsustainable debt situation.

This government seems to have no limits to its lawlessness and impunity.

What is equally troubling is that the reckless loan being pursued and the 80% MPS dividend will all be handed over to the Transport Minister's handpicked company — Justmoh Construction Limited.

Recall that Justmoh is not a party to the parliamentary resolution neither were Ghana's procurement laws respected in their bizarre engagement.

It is most striking to note that despite vehement protests from the concessionaire, Ashanti Port Services Limited (APSL) warning against direct payments to the Transport Minister's handpicked Justmoh, the Transport Minister and GPHA crudely ignored the protests and paid all funds including GPHA's US$33,300,000.00 to Justmoh Construction Limited. (See evidence of APSL's protest and payments into Justmoh's account as attached).

Only the Akufo-Addo/Bawumia government can explain how a GPHA 49,140,000 ordinary shares acquired in APSL valued at US$33,300,000.00 for which a share certificate was issued by APSL will rather be paid into the bank account of an entirely different entity, Justmoh Construction Limited. The wonders never end under this create, loot and share regime!

Notice is hereby strongly served that the caucus in Parliament will not support this new detrimental loan arrangement which has been authorized by Cabinet rather cleverly by using Ghana Shippers' Authority as a convenient front.

Lenders who are being approached should also be cautioned that we cannot guarantee that the incoming NDC administration will respect the terms of such a dubious loan agreement, particularly as parties are embroiled in full-blown litigation, and in the face of a litany of palpable constitutional violations.

It is worth adding that public officials at the GPHA and GSA who appear to be pliantly following unlawful ministerial orders, and conspiring to deepen the Boankra rot will have themselves to blame when the day of reckoning comes.

Judgement day will not be long from now.

For God and Country.

Ghana First. 🇬🇭

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