Govt continues efforts to recover money paid to Woyome - Tuah Yeboah

In 2014, the Supreme Court issued a unanimous ruling demanding businessman Alfred Agbesi Woyome to reimburse the state an amount totaling ¢51.2 million.

The court determined that Mr. Woyome had obtained the funds through unconstitutional contracts between the state and Waterville Holdings Limited, related to the construction of CAN 2008 stadia.

In 2020, upon the request of then-Deputy Attorney

Read full articleGeneral Godfred Yeboah Dame, the Supreme Court instructed the government to acquire several properties owned by Mr. Woyome, as part of efforts to offset the debt owed to the state.

These properties include two mansions at Trassaco Estate, a residence in Kpehe, an office complex of Anator Holdings, a residential building in Abelemkpe, and a stone quarry in the Eastern Region along with its equipment.

Despite these legal actions, the state has yet to fully recover the owed funds.

In an interview with JoyNews, Deputy Attorney General Alfred Tuah Yeboah acknowledged ongoing efforts to retrieve the outstanding amount, stating that while some money has been recovered, the full debt has not been repaid.

Regarding the $170 million judgment debt awarded to Trafigura, a company affiliated with the power company Ghana Power Generation Company (GPGC), negotiations are currently underway.

The tribunal in London ruled in favor of Trafigura in January 2021, determining that Ghana had wrongfully terminated a contract for the installation and operation of two power plants. The government faces the risk of losing its property through auctioning if the debt is not settled.

However, Mr. Tuah Yeboah assured that Ghana's properties are secure as the Finance Ministry engages in negotiations with the creditors. He emphasized the ministry's commitment to reaching an agreement on the repayment terms to prevent any adverse actions from the creditors.