Following reports that some of Ghana’s assets in the United Kingdom risk being sold to defray a judgement debt owed to a Singaporean company, Joy News’ Manuel Koranteng has visited the site of one of the buildings in London.
According to the reports, the Ghana High Commission building in the UK which provides visa and other services, the commissioner’s residence, the Ghana International Bank building, and other properties are at risk of being auctioned to defray a $140 million judgment debt awarded to Trafigura.
Trafigura, the majority owner of GPGC, a power company secured the award in January 2021 after an arbitral tribunal found that Ghana had unlawfully terminated a contract for the installation and operation of two power plants.
The government says the Finance Ministry has already taken steps to liquidate the debt.
However, according to Ghana’s High Commissioner to the United Kingdom, Papa Owusu Ankomah the only property that has been attached so far is the Regina House which hosts the Ghana International Bank and other institutions.
Despite this action, the High Commissioner to the United Kingdom says the bank and other occupants of the building are still functioning.
Joy News’ Manuel Koranteng visited the Regina House in London.
Watch the video below.
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