Tuesday, April 16, 2024
HomeNewsIbistek Deal Innovative

Ibistek Deal Innovative

…In Promoting ‘Ghana Beyond Aid’

It is emerging that Ibistek Ghana Limited may not be culpable after all, in the ongoing saga of boardroom politics in which the company appears under fire for perceived “illegality or circumvention of the processes” for securing the $500m deal port deal.

On the contrary, DAYBREAK gathered, Ibistek Ghana Limited may be the first major Ghanaian or African initiative that would give impetus and meaning to the Ghana Beyond Aid mantra touted by the Nana Akufo Addo administration because of its local content vision and mission..

In spite of the controversy surrounding the deal, DAYBREAK gathered further that Ibistek Ghana Limited, as a major Ghanaian investment firm, is bringing on board the African Development Bank (AfDB) to serve Ghana and African interest as key partners in rolling out the landmark project.

Of all the banks available, it is a known fact that the AfDB is unique, when it comes to matters of rapid growth and transformation in the sub-region; job creation for bulging youth populations and regional integration, which are all cornerstones in Ghana’s bid to achieve a ‘Ghana Beyond Aid’ soonest.

However, DAYBREAK learnt that both the World Bank and the Finance Ministry had other options, ostensibly for credit for the Ibistek Ghana Limited project coming from some other source, including certified World Bank affiliated agencies.

The way forward, Public Procurement Authority sources indicate for the Ministry of Finance to write to the World Bank, explaining that “the parties in the matter acted in accordance to the laws, procedures and systems which the Bank have supported the state over the years to establish.”

A copy of a letter dated 5th February, 2018, in the possession of DAYBREAK indicates that in calling a truce, a major consideration should be that GPHA “consider a financial option that provides for the achievement of best value for money for this project.”

The letter signed by PPAs Chief Executive AB Adjei and addressed to the Minister of Finance and copied to the Vice President and relevant sector Ministers, was also copied the Head, World Bank Unit, Ministry of Finance.

- Advertisment -

Most Popular

Recent Comments