Govt places embargo on signing of new contracts, loan agreements during transition period

As part of efforts to ensure a seamless transition process, Government has placed an embargo on entering into the new contractual obligation of financial nature during the transition period.

Mr Pius Enam Hadzide, Deputy Minister of information, announced this at a media briefing in Accra on Wednesday, on the activities of the Presidential transition team.

The Deputy Minister said ministers, deputy ministers, chief executive officers of state-owned enterprises, metropolitan, municipal and district chief executives and boards and councils of public institutions were not to sign new contracts for goods and services exceeding GHS 2 million.

They were also not to sign new contracts for works exceeding five million Ghana cedis, refrain from engaging in Memoranda of Understanding (MoU) loan agreements; and appointments of new management personnel.

Mr Hadzide said the Chief of Staff at the Office of the President and Chairperson of the Presidential transition team had already notified all those concerned.

Mr Hadzide said in case of ‘critical needs’, the express approval of the Office of the President shall be sought and obtained in writing before execution.

The Presidential Transition team has received the handing-over notes from the various ministries, departments and agencies, Office of the President, agencies under the Office of the President, and regional coordinating councils from the Director of the Administrator-General.

The transition team has inaugurated sub-committees to work towards a smooth transfer of political power from the first term of the Akufo-Addo-led government to a second term on January 7, 2021.