Trafigura judgment debt: Regina House in London is still the property of Ghana – Papa Owusu-Ankomah
Published:
3 months ago
Source:
3News
Ghana's High Commissioner to the United Kingdom (UK), Papa Owusu-Ankomah has said that Regina House, which is one of Ghana's properties in London, is still owned by the government of Ghana. Reports had indicated that Oil conglomerate Trafigura's Ghana Power Generation Company (GPGC) has taken over the Regina House in London, following the failure of the government to pay up a $134 million judgment debt. A Vice President of IAMNI Africa Bright Simon had also written on X that "Because of a decision to pay in bits, outside an agreed payment plan, Ghana had paid nearly a $100m, but the original debt has barely reduced? Yes, that's the sheer power of compound interest!
"Despite assurances by the High Commissioner in the UK that ongoing negotiations will prevent Trafigura from seizing govt properties in the UK, the country's biggest property in Central London, Regina House, is already in receivership & all rent payments now go to Trafigura? 3. The Energy Commission Boss advised the govt that terminating the deal will only cost Ghana $18m, which is lower than the ~$100m Ghana was required to pay for power over the 4 year contract term, power that apparently Ghana didn't need?