Audio Attachment:Listen to Dr. Matthew Opkoku Prempeh on Peace FM's 'kokrokoo' programme.. |
The University of Ghana (UG), Legon, stands the risk of losing most, if not all of its assets, in the not-too-distant future.
That is if the premier public university fails to payback a loan of $64m.
This was disclosed by the Minister of Education, Mathew Opoku-Prempeh, Monday.
The amount was borrowed from Africa Integras, a private firm to construct Faculty offices on campus but ‘it cannot be accounted for’.
The University, back in 2015, entered into a Public Private Partnership (PPP) agreement with Africa Integras to invest US$64 million in the construction of 1,000 new students’ hostel beds for undergraduate and post-graduate students on the Legon campus. The project was structured as a 25-year Build, Operate and Transfer (BOT) contract.
The BOT agreement was signed by Professor Ernest Aryeetey, then Vice-Chancellor of the University of Ghana, on behalf of the University, while Ms Andrea Pizziconi, Managing Partner at Africa Integras, initialed for her Organization.
Some have raised questions about the deal, particularly relating to the overall cost to the University.
Speaking to Kwami Sefa-Kayi in a one-on-one interaction on Peace FM’s morning show, Monday, the Education Minister disclosed that the amount was borrowed “about two or three years ago according to Legon…the council has described it ($64m) as the worst contract the school had gone for and they didn’t even inform government before going for the loan.
UG needs to pay 10million dollars for 25 years and by the time they redeem themselves, they would have paid 250million. If they are not able to pay, their assets will be confiscated."
The Minister therefore wished public universities would involve government in its decision-making on such matters.
Asked if it will not be considered as interference on the part of government in the administration of the university, since the universities are considered to be autonomous, he said: "it is about time we realize that Management of a university is different from academic freedom…universities need to be open to government…they are not autonomous”
Background
In July 2014, under the leadership of Prof. Ernest Aryeetey, the UG entered a contract with Africa Integras, a private investment company with headquarters in New York, to construct five buildings for the university on a Build Operate and Transfer (BOT) basis.
The project was to consist of the construction of an expanded facility for the College of Humanities, a complex for the new College of Education, a new building complex for the College of Basic and Applied Sciences, a complex to house the Institute of Technology and Applied Science and a building for the College of Health Sciences to aid the university in relocating the medical school to the UG campus from its present location in the Korle Bu Teaching Hospital.
Graphic.com.gh reported in 2017 that the project has come to a standstill due to disagreement between the current Vice Chancellor (VC) of the University, Prof. Ebenezer Oduro Owusu, and his predecessor, Prof. Ernest Aryeetey, over the viability of the project.
Source: Rebecca Addo Tetteh/Peacefmonline.com
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Upon all the people at school of administration and department of statistics .It beat my mind how this can happen. I don't think a professior will sell his conscience of good name for money. We need more details and let talk to the past board on this issue and their stands on this. That my alma mater,and I expect the best from UG looking at where Ghana is now.
the info provided here doesnt really add up. In a typical BOT a "provider" brings his money, puts something up, runs it to make back his money plus profits within an agreed time and then turns the asset over to the "owner" at the end of the time. So why is UG paying $10mil/yr? More info needs to come out. I will not be surprised if govt/current authorities have decided to cancel the agreement or frustrate it and that is the penalty for making that move.
Only uneducated minds will vote for mahama
Akua Monica my question is do you work ar Legon? if yes then I dont know what you are talking about. As a matter of fact I work in in the University I Know what is going on. We the Union raise a question about this and then the Vice Chancellor insulted us. Infact Profe Ayertey is very rude. I do not talk about Junior and senior Staf. Infact he need to be investigated.
Frankly ; you are DISGRACE and perhaps an NDC ***barred word*** minded thiff with an ewe/northner mind set of stilling ; for your information this is another classic NDC CREATE LOOT AND SHARE master plan led by this Prof Ernest Aryeetey with the knowlegde of Jon Mahama ; how on earth can you go sign such agreement which upon default may cause the assets of a whole university to be sold; did they consult the AG for comments on such agreement when the university is not a private university but a government property belonging to all Ghanaians ; how can this Prof. Aryeetey a typical NDC educated criminal thiff lead such robbery to defraud Ghana of such amount which have landed Ghana in the dock in London; HOW EVIL CAN JON MAHAMA AND THE NDC BE because to me Jon Mahama and the NDC were aware of this fraudulent loan to defraud Ghana ; to me the grand council of the University including Prof Aryeetey should investigated by the the Special Prosecutor ; today the project is at a stand still and the monies disappeared into thin air ; how on earth can you go and borrow such huge sum without the knowledge of the Government and how could you go borrow $64 million for over 25 years and pay $250 million -CRAZY !!!!!!; NDC the BIGGEST ***barred word*** MINDED ROBBERS ASSOCIATION EVER SEEN IN GHANA -NEVER AGAIN !!!!
people of little minds, I don't think you guys know Prod Aryetey very well to call him greedy. I have known Prof since ISSER days.you people just wakes up in the morning with your dirty mouth and pick up a mike and start talking sh.....t. when you are dealing people who have no vision, it feels like you are taking to stones,
This current mouth-running Minister of Educ is infact one minister who must never be taken serious in his official pronouncements. The unfounded, wild and calculated slander he brought against the fmr minister without proof is still hanging around his neck. He is gradually becoming notorious for making baseless allegations without adequately substantiating them just with the intention of scoring cheap political points. It won't be long when the bare facts of this allegations would be known.
So? Nobody put a gun on you to be education minister right? You accepted the offer so but your brains to work & let the public breathe. With your microphone you screamed you can fix the mess if elected so fix it.Aka mo ho dodo politicans.
Even if project were executed, VALUE FOR MONY
It is about time Prof Aryeetey sues these people. Why on earth should the new VC behave more like a politician rather than an Administrator? It's sickening. Prof Aryeetey, I think these chaps are bent on undoing all that you did for Legon.