Woyome Banks Hope On SSNIT Cash

Pressure group OccupyGhana has cautioned the Social Security and National Insurance Trust (SSNIT) against funding the latest controversial project being undertaken by embattled financier of the ruling National Democratic Congress (NDC), Alfred Agbesi Woyome.

The group shocked Ghanaians last week when they revealed that Woyome’s company had been awarded another $8 million (GH¢35m) contract by the government.

The news is coming at a time when the government is struggling to recoup the GH¢51.2 million dubiously paid to the NDC man in 2010 by the government on the instructions of then Attorney General, Betty Mould Iddrisu and her deputy, Ebo Barton-Odro.

The group released documents detailing how Anator Holding Company Limited which Woyome claims belong to him, was given the contract by then Minister of Transport, Dzifa Aku Attivor, to “develop deep seaports (including) industrial parks and green townships” in Ghana and the deal was signed just last year December.

Mr. Woyome tried to rubbish the pressure group’s claims but OccupyGhana has come out strongly – even with more evidence – suggesting that SSNIT is being pressured by the government to support the project with funds.

SSNIT’s Stake

In a statement yesterday, OccupyGhana said the Mahama-led NDC government has issued a directive to SSNIT to use pension funds to acquire a 24% stake in what it called “this phantom Woyome project.”

The group averred, “OccupyGhana has noted that its last press release on the above matter has been met with silence from government officials, and two farcical denials of there even being an agreement: one by Woyome and another by Mr. Selby, the Chief Director of the Ministry of Transport. We have rebutted this by posting the agreement on our website.”

Phantom Concept

According to the pressure group, Woyome designed a concept seeking to provide solar power and 20,000 houses for an Urban Renewal Project and claimed it was going to be replicated and adapted to agriculture, mining or manufacturing communities with job creation prospects.

“Woyome managed to get the Finance Minister at the time, Dr. Kwabena Duffuor, to write a letter dated 15th December, 2009 to in principle accept participation stake-holding of 24% in the joint venture,” the group disclosed.

It said, “That letter was however, clear that the Government was going to subject the proposal to further discussion with relevant stakeholders, leading to formal negotiations towards a definitive agreement. The letter was also clear that a final position on all aspects of the project would only be arrived at after discussions with all stakeholders, subject also to Cabinet and Parliamentary approvals.”

“By the time Woyome re-surfaced in 2014, what was a Green Township project had transformed and ballooned into a huge Special Economic Zone (SEZ) project designed to do practically everything under the sun: electricity, deep sea ports, roads, railways, hospitals, factories, agriculture, mining, archaeological findings,” OccupyGhana underscored.

Woyome’s Consultant

“On 19th August, 2016, Woyome’s consultant, Albert Essamuah Associates Limited, now claiming to have been appointed as the Government’s consultants (and we are yet to see evidence of any such appointment), wrote to the Chief of Staff demanding the latter to issue an urgent directive from your august office, to SSNIT through its Board Chairman, to take up the 24% stakeholding of the Government of Ghana in the Project SEZ on behalf of the people of Ghana. This letter also revealed that ‘when the construction of the Port commences the value will escalate to over US$25 billion,’” stated the pressure group.

OccupyGhana said although the said letter was ‘disingenuously’ silent about the value of the alleged 24% stake that SSNIT was to be directed to acquire, “What is apparent is that either SSNIT or the Government was expected by Woyome to fork out a colossal 24% of US$25bn for that acquisition, which translates into a whopping $6 billion!

“So, what Dr. Duffuor had clearly stated as an ‘in principle acceptance’ with several approval conditions was, after the illegal Framework Agreement was signed between Woyome and Dzifa Attivor, being represented to the Chief of Staff as a firm commitment to acquire a 24% stake in the phantom project,” the group said.

Legal Opinion

“We are satisfied to note that the Chief of Staff asked for a legal opinion from the Attorney General, not on whether or not Ghana had committed to acquire that 24% stake (which would be false), but on whether the government could issue the directive to SSNIT as demanded by Woyome,” it observed.

They said an opinion dated 30th September 2016 and signed by Dr. Dominic Ayine, Deputy Attorney General stated that the Chief of Staff “can issue directives with respect to SSNIT to take up the 24% stake in the project,” but “subject to compliance with the investment guidelines established by the National Pensions Act (2008).”

Source: Daily Guide