A Deputy Attorney General and Minister of Justice, Alfred Tuah Yeboah, has disclosed ongoing efforts to retrieve approximately GH¢51.2 million owed by businessman Alfred Agbesi Woyome.

This debt originated from unconstitutional contracts between the state and Waterville Holdings Limited in 2006, intended for the construction of CAN 2008 stadia.

In 2014, the Supreme Court mandated Woyome to refund the aforementioned amount to the state.

Tuah Yeboah acknowledged progress in recovering some of these funds but noted that the full amount is yet to be retrieved.

"Recoveries have been made but we have not recovered everything from him. I cannot be specific about what is left but I can say that some monies have been recovered.

"We also attempted to do some execution when it comes to his properties. So, we are still in the process but he has not paid everything," myjoyonline.com quoted the deputy he explained.

Furthermore, in 2020, the Supreme Court directed the government to acquire several properties owned by Alfred Woyome to offset the debt. These properties include mansions at Trassaco Estate, a residence at Kpehe, an office complex of Anator Holdings, a residential building at Abelemkpe, and a stone quarry in the Eastern Region.

In parallel, negotiations are underway regarding the $170 million judgment debt awarded to Trafigura, the majority owner of Ghana Power Generation Company (GPGC).

This judgment followed Ghana's termination of a contract for the installation and operation of two power plants, deemed unlawful by an arbitral tribunal in London.

Tuah Yeboah assured the public that Ghana's properties are secured during negotiations with Trafigura.

"Currently, the properties are safe but if we do not pay at the end of the day the creditors may want to find means..." he is reported to have said.

He further stated that the Ministry of Finance is actively engaged in negotiations to determine payment terms.

These developments highlight the government's commitment to addressing outstanding debts, while ensuring prudent fiscal management.

NAY/AE

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