After public uproar and Parliament disapproval of funds for his Cathedral and unanimous request for the sacking of Ken Ofori-Atta;
Akufo-Addo has vowed to build his Cathedral with a personal donation even as fresh allegations emerge of Ken Ofori-Atta’s Enterprise Insurance company being sole sourced to provide Insurance cover for the Cathedral…
Akufo-Addo has appointed his cousin Ken Ofori-Atta as Trade Minister, in addition to being the Finance Minister.
The synergy between the Trade Ministry and the Finance Ministry is vital, however, the turf war between Ken Ofori-Atta and Alan Kyerematen particularly over the Trade Fair Redevelopment Project as became apparent in Parliament during their vetting has cost Ghana greatly.
If Ken Ofori-Atta was performing creditable as Finance Minister, the added responsibility of the Trade Ministry portfolio would have been in order, particularly because of the African Continental Free Trade Area [AfCFTA] which could transform Ghana into the Continental Trade and Financial hub.
The African Continental Free Trade Area Secretariat hosted in Ghana, is expected to coordinate a multi-trillion dollar annual transaction between the 54 African countries and over 1.3billion persons.
The African Continental Free Trade Area Secretariat should have been located at the Ghana International Trade Fair Site;
Unfortunately, the Trade Fair Redevelopment Project has not taken off after the demolition of private companies at the Trade Fair Site by Ken Ofori-Atta’s handpicked CEO [Dr. Agnes Adu] in 2019.
Firm promises were made by the Finance Minister to commence the Trade Fair Redevelopment Project by first quarter of 2020, claiming to have secured $2billion for the Tradefair Redevelopment Project.
The Finance Minister, Ken Ofori-Atta and the Trade Minister, Alan Kyeremanteng committed perjury before the Parliament Appointments Committee during their vetting when asked questions on the Trade Fair Redevelopment Project and oversight responsibility for the Ghana Trade Fair Company.
President Akufo-Addo despite his own legal firm, Akufo-Addo, Prempeh & Co warning the Trade Minister and his government through the Attorney-General of a potential Judgement Debt resulting from their handling of the Trade Fair Redevelopment Project, ignored the warning and signed a new agreement in March 2022 with Stellar Holding Pte Ltd of Singapore in Dubai.
The new agreement with the sole sourced Singapore Stellar Holding Pte Ltd was signed by President Akufo-Addo and Alan Kyeremanteng despite the Government of Ghana having in 2016 signed an agreement with a 100% Ghanaian company REROY GROUP, which won an International Competitive Tender for the Trade Fair Redevelopment Project.
Specifically, under the new International agreement, Stellar Holding Pte. Ltd was mandated by the Government of Ghana to redevelop the Trade Fair site into a mixed use, modern facility with a first-class convention centre, exhibition facilities and supporting facilities.
Phase 1: under the new MoU, was to focus on developing the Convention Centre and Exhibition Halls to hold the World Economic Forum, Africa and host the African Continental Free Trade Area [AfCFTA] Secretariat.
Phase 2: under the new MoU includes facilities including luxury hotels, high-end malls and other residential and commercial development.
The contents of the Stellar Holding Pte Ltd Agreement which was to be designed by David Adjaye is an exact replica of the Tender Proposal that won the REROY GROUP the international Competitive Tender which was supervised by PriceWaterHouseCoopers as transaction advisors for Government of Ghana in 2016.
According to the Ghana Trade Fair Company Limited, management will in the next few weeks following the signing of the Stellar Holding Pte Ltd Agreement put out a timeline of scheduled works and activities within April, 2022.
It will be recalled that in 2019, the two parties contracted a third-party company David Adjaye & Associates who were paid upfront to undertake horizontal development of the entire Trade Fair site with works including servicing of the land and the construction of infrastructure including roads, drains, relocation and extension of utilities as well as partitioning of the site into varying lots.
Additionally, the new agreement, if approved by Parliament, was to the establish a Joint Venture Company to accelerate the developing and financing the development of world class luxury hotels, high-end malls and other residential and commercial developments as agreed in Phase 2 of the MoU on land spanning 65acres out of the total 140acres prime La Trade Fair land; with 75acres of the land unaccounted for and susceptible to looting…
Board Minutes available to Parliament which have been signed by the Trade Fair Bpard Chairman [McDan] confirmed that the Ken Ofori-Atta handpicked CEO, Dr. Agnes Adu and the Architect met with COCOBOD CEO to allocate 50acres of the Trade Fair Redevelopment Project Land through COCOBOD with no purpose in mind.
A Petition on the Trade Fair Redevelopment Project currently before the Speaker of Parliament will be the subject of the Trade and Industry Committee of Parliament if the Stellar Holding Pte Ltd Agreement is brought to Parliament for approval as required by the Constitution in relation to international financial transactions and agreements.
The signed Trade Fair Board Minutes in the possession of Parliament, confirm the fraudulent alterations made to the Executive Instrument used for the acquisition of the Trade Fair and illegal unilateral extension of the expired lease by 99years and stealthily procuring title to the prime Trade Fair land with the connivance of criminally-minded officials of the Lands Commission denying the Original Land Owners of their Lands FOREVER.
The Special Prosecutor must take immediate action…
🎼 AriseGhana Youth for your country.
The Trade Fair Redevelopment Project which must host the African Continental Free Trade Area Secretariat holds the key to transforming Ghana’s economic fortunes and rescue the Ghana Cedi.
The synergy between the Trade Ministry and the Finance Ministry is vital, however, the turf war between Ken Ofori-Atta and Alan Kyeremanteng particularly over the Trade Fair Redevelopment Project as became apparent in Parliament during their vetting has cost Ghana greatly.
Ghanaians are resolved to be Citizens and not Spectators.
Ghanaians must demand Parliament expeditiously looks into the Trade Fair Redevelopment Project, the REROY GROUP and Stellar Holding Pte Ltd Agreements signed by the Government of Ghana and ensure the implementation of the Trade Fair Redevelopment Project…
God Save Our Homeland Ghana and help us survive the WASTED YEARS OF THE AKUFO-ADDO-BAWUMIA GOVERNMENT and their DumbDogs who can’t speak truth to power because they are compromised or complicit or corrupt.
#SaveGhanaNow
By Prince-Derek Adjei