GACL places the Spotlight on McDan’s Debts
...as it pursues Outstanding Debts from Companies Operating at Kotoka International Airport
The Ghana Airports Company Limited (GACL) has intensified efforts to recover debts owed by companies operating at the Kotoka International Airport (KIA). In a press statement dated December 31, 2024, GACL outlined its regular debt collection exercise, targeting organizations that have failed to fulfill their financial obligations.
Spotlight on McDan Company Limited
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One notable case highlighted in the press release is that of McDan Company Limited, which owes a total of $3,995,622.66 (approximately GHS 13,523.37). The breakdown of the outstanding debt includes:
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- Terminal 1 rent and other fees: $640,232.48
- Block factory on Spintex Road (5.66 acres): $1,160,827.23
- Airport Logistics Building (10.63 acres): $2,168,266.75
- Courier Enclave (0.59 acres): $8,140
- Cargo Village (offices): $18,156.20 (GHS 13,523.37)
Additionally, McDan is required to pay 15% of its gross revenue as monthly returns for the period from September 1, 2022, to November 30, 2024. Despite paying GHS 2,000,000 on December 24, 2024, a significant portion of the debt remains unsettled.
Ongoing Disputes and Allegations
GACL revealed that McDan Company Limited is also in possession of lands acquired from the Airports Company, some of which are under litigation. It was alleged that McDan has developed portions of these lands for commercial use without paying the required ground rent.
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The GACL management emphasized that previous payment plans proposed by McDan in 2020 were defaulted on, leaving the company with no option but to demand full payment of all monies owed.
Broader Debt Collection Efforts
Beyond McDan, GACL disclosed that four other companies operating at KIA were recently closed down for non-payment of debts. GACL reaffirmed its commitment to pursuing all outstanding debts as part of its mandate to safeguard financial sustainability.
This bold move by GACL demonstrates its resolve to address longstanding financial challenges and enforce accountability among tenants and stakeholders at KIA.
The public is eagerly awaiting further developments in this high-profile case.
Watch this space.
By Jeorge Wilson Kingson || ghananewsonline.com.gh
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