The Ghc 17.5m NHIA locked up Investment – This is what the NDC is talking about

The issue raised by the NDC has to do with the investment of Ghc 17.5 million by the Akufo-Addo government without proper due diligence. Documents from the NHIA show that the transfers of the amount were made by the NHIA to All Time Capital in April, September and November of 2018. Facts captured in the document show that the investment transactions were fresh.

There are also authentic document that show clearly that the Ghc 17.5 million the NHIA invested is now locked up with All Time Capital. The issue raised by the NDC. has to do with- the NHIA investing without due diligence.

The NPP did not inherit the deal from the NDC. You can bypass many bad investments by knowing what catches to look for and which clarifying questions to ask. Most bad investment scenarios can be avoided by following basic investment ethics. This was what informed the decision to establish a monitoring department by the Silvester Mensah administration to monitor and scrutinise every investment the outfit made. That regular internal due diligence review ensured transparency and encouraged management accountability. The truth is that from both a company and investor perspective, the profitability of almost any transaction involving a,company valuation hinges heavily on the result of the preliminary due diligence inquiry. That is why I disagree with those who try to downplay this terrible mess with what happened under Silvester Mensah. It is not about what the acting CEO says or the or the propaganda theories government propagandists put put- it is about what is captured in the correspondence (documents) between the company and NHIA. Government has not come out to deny the fact that the Ghc 17.5 million they invested is now locked up with All Time Capital.

The other issue is the terrible state of the NHIS and the lies being peddled around by the President and his propagandists. Delivering the 2019 state of the nation address in parliament, the President told Ghanaians his administration has paid the Ghc 1.2 billion he inherited and brought the operation of the NHIS back to life. That was a scary lie. The same President in 2017 told Ghanaians that payment to service providers, since his administration took office had been consistent only to be exposed by the service providers. In 2018, the Association of Private Clinics disputed claims by government that it had settled outstanding 15 months of NHIS debt it owed them…/Private-clinics-dispute-Akufo…

We saw what happened in the Central Region. According to the service providers there is 8 to 9 months backlog of debt unpaid. In 2018 when the President and his propagandists told the whole world that government had paid the outstanding 15 months of the NHIS debt, the Association of Private Clinics debunked that claim. The Association said there were four backlog of debt from 2016, five months unpaid from 2017 and nothing in 2018 as at the time it reacted.
The President’s statement that his administration inherited Ghc 1.2 billion from the NDC government is false. The arrears he inherited was Ghc 425.79

Source: Ohenenana Obonti Krow

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