I think you have made a mistake in calculating the interest rate.It should be $30 Million and not $30,000 Million. In any case they are still cheating Ghana with the Support of our leaders. Thank you.
I think you have made a mistake in calculating the interest rate.It should be $30 Million and not $30,000 Million. In any case they are still cheating Ghana with the Support of our leaders. Thank you.
gg 10 years ago
What do you expect? The same idiots who believe in witchcraft and built Gambaga witch camp and others are the same idiots that negotiated on Ghana's behalf.
Can you see Atia challenging Mao about a clause in the contract?
What do you expect? The same idiots who believe in witchcraft and built Gambaga witch camp and others are the same idiots that negotiated on Ghana's behalf.
Can you see Atia challenging Mao about a clause in the contract?
Akua Mansa 10 years ago
What do you expect when you have such Incompetent, fraudulent, Greedy Bastards leading the Nation.
You aint seen nothing yet
Ghana is gone to the dogs
What do you expect when you have such Incompetent, fraudulent, Greedy Bastards leading the Nation.
You aint seen nothing yet
Ghana is gone to the dogs
Gye Nyame 10 years ago
Only the Chinese are prepared to give loans to Ghana and even the Chinese are beginning to get cold feet, hence the delays. Going to China is like going to a loan shark -- they make their demands and write the contract.It is ... read full comment
Only the Chinese are prepared to give loans to Ghana and even the Chinese are beginning to get cold feet, hence the delays. Going to China is like going to a loan shark -- they make their demands and write the contract.It is up to you to take it or leave it but you know we in Ghana had no choice but to take it.
Ace Kojo-Starfish 10 years ago
This is really an insult to the intellectuality of Ghanaians by the Chinese and the government. How far has education develop minds to think right for this nation. Where are the legal practitioners ? Where are the astute inte ... read full comment
This is really an insult to the intellectuality of Ghanaians by the Chinese and the government. How far has education develop minds to think right for this nation. Where are the legal practitioners ? Where are the astute intellectuals of this dear land ? Where were they and where are now ? How come the government didn't dive deep into this whole agreement ? May we live in interesting times. God bless GHANA
Ace Kojo-Starfish 10 years ago
This is really an insult to the intellectuality of Ghanaians by the Chinese and the government. How far has education developed minds to think right for this nation. Where are the legal practitioners ? Where are the astute in ... read full comment
This is really an insult to the intellectuality of Ghanaians by the Chinese and the government. How far has education developed minds to think right for this nation. Where are the legal practitioners ? Where are the astute intellectuals of this dear land ? Where were they and where are they now ? How come the government didn't dive deep into this whole agreement ? May we live in interesting times. God bless GHANA
Blay 10 years ago
CDB loan has the potential to draw Ghana's economic development back 10yrs. I advise GH to quit.
CDB loan has the potential to draw Ghana's economic development back 10yrs. I advise GH to quit.
Lin 10 years ago
Assuming the annual commitment fees is 1% of the $1 billion, Ghana could be paying $30,000 thousand a year to CDB depending on the repayment period, not $30,000 million. The Author's maths is really poor.
Assuming the annual commitment fees is 1% of the $1 billion, Ghana could be paying $30,000 thousand a year to CDB depending on the repayment period, not $30,000 million. The Author's maths is really poor.
Kofi Ata, Cambridge, UK 10 years ago
My apologies for adding more zeros than it should have been.
My apologies for adding more zeros than it should have been.
KKO 10 years ago
Kofi, 1% of 3 billion=(10^-2)x3x10^9=3x10^7=30x10^6. So what is Lin's problem?
Yes, this indeed is daylight robbery, not only by the Chinese but by the people who negotiated it. The Chinese are known to ply foreign negotia ... read full comment
Kofi, 1% of 3 billion=(10^-2)x3x10^9=3x10^7=30x10^6. So what is Lin's problem?
Yes, this indeed is daylight robbery, not only by the Chinese but by the people who negotiated it. The Chinese are known to ply foreign negotiators with food and drink (ala state banquet) during the first night before any negotiations. The party would go on till 4am, while the first day of negotiations is scheduled for 7:30am. BP, Phillips and Exxon among others who negotiated with them in the late 1970s and 80s have such "horror stories" to tell.
So the negotiators who would have been eating and drinking (including rotten eggs, as the national delicacy)all night, simply sleep walk into rotten deals. And they have no qualms about bribing their quarries either.
The real loser is the Ghanaian taxpayer who in spite of being duped continually by politicians, still rewards them with his/her vote. Didn't someone buy an aircraft from a warehouse with Ghana's money and rent it back to the state? How about taking a loan from a "company" whose office was located in a disused cash and carry? Then there was the Brazilian Braer Aircraft purchase saga.
The man we have as president of Ghana carries more baggage than the rest of us care to worry about!
John 9 years ago
Since our leaders have refused to think,our chinise counterpart thought for us. Already they think ghanaians are just some advanced animals. Anytime I think about this I am tempted to think those who sat on this committee we ... read full comment
Since our leaders have refused to think,our chinise counterpart thought for us. Already they think ghanaians are just some advanced animals. Anytime I think about this I am tempted to think those who sat on this committee were either looters or jail breakers. God save Ghana
John 9 years ago
Since our leaders have refused to think,our chinise counterpart thought for us. Already they think ghanaians are just some advanced animals. Anytime I think about this I am tempted to think those who sat on this committee we ... read full comment
Since our leaders have refused to think,our chinise counterpart thought for us. Already they think ghanaians are just some advanced animals. Anytime I think about this I am tempted to think those who sat on this committee were either looters or jail breakers. God save Ghana
David 10 years ago
How much is the commitment fee?
How much is the commitment fee?
ohene 10 years ago
I'm equally surprise at you on the fact that you're surprised at the sheer incompetence of these NDC guys. Right from the president to their foot soldiers; just empty headedness and bunch of noise makers. corruption, Dramani ... read full comment
I'm equally surprise at you on the fact that you're surprised at the sheer incompetence of these NDC guys. Right from the president to their foot soldiers; just empty headedness and bunch of noise makers. corruption, Dramani corruption
HANNIBAL(Blessed by God) 10 years ago
Ghana should let go of that loan and look elsewhere. The Chinese are trying to play politics with this loan including attaching the issue of the Chinese gold miners to it.
Ghana should let go of that loan and look elsewhere. The Chinese are trying to play politics with this loan including attaching the issue of the Chinese gold miners to it.
Kalahariman 10 years ago
The Chinese are practicing 419 Scam on Ghana. A promise of 3 billion loan which actually is a 600 million on face value but the interest rate and fees are calculated on a 3 billion loan. Ghana has the right to file a fraud cl ... read full comment
The Chinese are practicing 419 Scam on Ghana. A promise of 3 billion loan which actually is a 600 million on face value but the interest rate and fees are calculated on a 3 billion loan. Ghana has the right to file a fraud claim and have the loan re-structured on a 600 million loan with interest and fees calculated on 600 million and not 3 billion since the creditor has not satisfied its obligation. Parliament need re-visit the loan agreement and pursue the right channels: International business bodies are available for filling law suits and complaints. Next time, Parliament need to do their job in analyzing future loans before signing them.
Kalahariman 10 years ago
It is true we need capital to pivot Ghana to the next level of development; adding value to our natural resources: a refinery plant to refine our oil, alumina refinery plant to process our Bauxite, a gold refinery plant, a co ... read full comment
It is true we need capital to pivot Ghana to the next level of development; adding value to our natural resources: a refinery plant to refine our oil, alumina refinery plant to process our Bauxite, a gold refinery plant, a cocoa refinery plant and so on but we must be careful with the terms of the loans we sign. We have people in Ghana with enough money if they can come together form a business to open some of these plants. We cannot always depend on foreign investments in developing our nation. You can easily name 10 prominent Ghanaians with money that can raise enough capital to start a plant..but again, trust and fear will not allow for the 10 people to even draw out a business plan.
DAN 10 years ago
WHY BUILD NEW WHEN YOU CAN SELL OIL ONE NOW TO INVESTORS OUTSIDE GHANA???? eVEN A FAILING REFINERY IN USA WAS SOLD TO DELTA AIRLINES WHERE THEY TUNED IT TO PRODUCE MORE JET FUEL
WHY BUILD NEW WHEN YOU CAN SELL OIL ONE NOW TO INVESTORS OUTSIDE GHANA???? eVEN A FAILING REFINERY IN USA WAS SOLD TO DELTA AIRLINES WHERE THEY TUNED IT TO PRODUCE MORE JET FUEL
DAN 10 years ago
BESIDE AFRICAN PRESIDENTS IN PRISON THERE THEY ALSO ARGUE INTERNATIONAL CONTRACT DISAGREEMENTS
BESIDE AFRICAN PRESIDENTS IN PRISON THERE THEY ALSO ARGUE INTERNATIONAL CONTRACT DISAGREEMENTS
Ethan 10 years ago
fools, it is Ghana wants the loan. In Africa, so many countries are crying for that money.
fools, it is Ghana wants the loan. In Africa, so many countries are crying for that money.
Kalahariman 10 years ago
Ten rich Ghanaians who can pull up a capital investment fund to open refineries to add value to our natural resources...
10 Richest People in Ghana
(1) Dr. Kwame Addo Kufuor …$1.2 billion
(2) Dr. Sam Jonah…$500 M ... read full comment
Ten rich Ghanaians who can pull up a capital investment fund to open refineries to add value to our natural resources...
10 Richest People in Ghana
(1) Dr. Kwame Addo Kufuor …$1.2 billion
(2) Dr. Sam Jonah…$500 Million
(3) Dr. Kwesi Nduom…$300 million
(4) Nana Akufo-Add0…$250 million
(5) Dr. Yaw Osafo-Marf0…$220 million
(6) Dr. Kwesi Botchwey…$200 million
(7) Dr. Kwaku Afriyie…$180 million
(8). Mr. Kwadwo Adjei Darko…. $150 million
(9). President Jerry John Rawlings - $50 million
(10). Mr. Kofi Wayo…$30 million.
Abeeku Mensah 10 years ago
And where do you think they got their respective wealth?
Were these people not around when Kufour sold Ghana Telecom and or Ghana Airways?
And where do you think they got their respective wealth?
Were these people not around when Kufour sold Ghana Telecom and or Ghana Airways?
Koomson 10 years ago
It seems Mahama is using his political influence to enrich himself and his cronies. Watch Mahama carefully.
It seems Mahama is using his political influence to enrich himself and his cronies. Watch Mahama carefully.
LONTO-BOY 10 years ago
MASSA KOFI, it's tempting to point fingers at the Chinese for this "Wonga" fraudulent loan, but we should rather blame the corrupt inept NDC Government and unpatriotic politicians for selling the country down the river. China ... read full comment
MASSA KOFI, it's tempting to point fingers at the Chinese for this "Wonga" fraudulent loan, but we should rather blame the corrupt inept NDC Government and unpatriotic politicians for selling the country down the river. China didn't bully the NDC Government into taking that $3 Billion loan. Was the terms, conditions and repayment methods of this huge loan written in Chinese Mandarin which the NDC Government did lack an in-depth understanding?
Personally, I can't put into polite words what I think of our Ghanaian politicians for throwing Ghana into a vicious cycle of debt and the exploitation of our minerals and resources, cheaply, by the Chinese and other foreign nationals.
Gio 10 years ago
When u allow urself to be taken then who r u? Sorry a fool.
When u allow urself to be taken then who r u? Sorry a fool.
DAN 10 years ago
NOBODY READ THE FINE PRINT IN CONTRACT?????
NOBODY READ THE FINE PRINT IN CONTRACT?????
Amega 10 years ago
they only cared about the kickback they wanted.
they only cared about the kickback they wanted.
Ethan 10 years ago
this article is shit. i deeply doubt the writer's intelligence
this article is shit. i deeply doubt the writer's intelligence
I think you have made a mistake in calculating the interest rate.It should be $30 Million and not $30,000 Million. In any case they are still cheating Ghana with the Support of our leaders. Thank you.
What do you expect? The same idiots who believe in witchcraft and built Gambaga witch camp and others are the same idiots that negotiated on Ghana's behalf.
Can you see Atia challenging Mao about a clause in the contract?
What do you expect when you have such Incompetent, fraudulent, Greedy Bastards leading the Nation.
You aint seen nothing yet
Ghana is gone to the dogs
Only the Chinese are prepared to give loans to Ghana and even the Chinese are beginning to get cold feet, hence the delays. Going to China is like going to a loan shark -- they make their demands and write the contract.It is ...
read full comment
This is really an insult to the intellectuality of Ghanaians by the Chinese and the government. How far has education develop minds to think right for this nation. Where are the legal practitioners ? Where are the astute inte ...
read full comment
This is really an insult to the intellectuality of Ghanaians by the Chinese and the government. How far has education developed minds to think right for this nation. Where are the legal practitioners ? Where are the astute in ...
read full comment
CDB loan has the potential to draw Ghana's economic development back 10yrs. I advise GH to quit.
Assuming the annual commitment fees is 1% of the $1 billion, Ghana could be paying $30,000 thousand a year to CDB depending on the repayment period, not $30,000 million. The Author's maths is really poor.
My apologies for adding more zeros than it should have been.
Kofi, 1% of 3 billion=(10^-2)x3x10^9=3x10^7=30x10^6. So what is Lin's problem?
Yes, this indeed is daylight robbery, not only by the Chinese but by the people who negotiated it. The Chinese are known to ply foreign negotia ...
read full comment
Since our leaders have refused to think,our chinise counterpart thought for us. Already they think ghanaians are just some advanced animals. Anytime I think about this I am tempted to think those who sat on this committee we ...
read full comment
Since our leaders have refused to think,our chinise counterpart thought for us. Already they think ghanaians are just some advanced animals. Anytime I think about this I am tempted to think those who sat on this committee we ...
read full comment
How much is the commitment fee?
I'm equally surprise at you on the fact that you're surprised at the sheer incompetence of these NDC guys. Right from the president to their foot soldiers; just empty headedness and bunch of noise makers. corruption, Dramani ...
read full comment
Ghana should let go of that loan and look elsewhere. The Chinese are trying to play politics with this loan including attaching the issue of the Chinese gold miners to it.
The Chinese are practicing 419 Scam on Ghana. A promise of 3 billion loan which actually is a 600 million on face value but the interest rate and fees are calculated on a 3 billion loan. Ghana has the right to file a fraud cl ...
read full comment
It is true we need capital to pivot Ghana to the next level of development; adding value to our natural resources: a refinery plant to refine our oil, alumina refinery plant to process our Bauxite, a gold refinery plant, a co ...
read full comment
WHY BUILD NEW WHEN YOU CAN SELL OIL ONE NOW TO INVESTORS OUTSIDE GHANA???? eVEN A FAILING REFINERY IN USA WAS SOLD TO DELTA AIRLINES WHERE THEY TUNED IT TO PRODUCE MORE JET FUEL
BESIDE AFRICAN PRESIDENTS IN PRISON THERE THEY ALSO ARGUE INTERNATIONAL CONTRACT DISAGREEMENTS
fools, it is Ghana wants the loan. In Africa, so many countries are crying for that money.
Ten rich Ghanaians who can pull up a capital investment fund to open refineries to add value to our natural resources...
10 Richest People in Ghana
(1) Dr. Kwame Addo Kufuor …$1.2 billion
(2) Dr. Sam Jonah…$500 M ...
read full comment
And where do you think they got their respective wealth?
Were these people not around when Kufour sold Ghana Telecom and or Ghana Airways?
It seems Mahama is using his political influence to enrich himself and his cronies. Watch Mahama carefully.
MASSA KOFI, it's tempting to point fingers at the Chinese for this "Wonga" fraudulent loan, but we should rather blame the corrupt inept NDC Government and unpatriotic politicians for selling the country down the river. China ...
read full comment
When u allow urself to be taken then who r u? Sorry a fool.
NOBODY READ THE FINE PRINT IN CONTRACT?????
they only cared about the kickback they wanted.
this article is shit. i deeply doubt the writer's intelligence